Inequality and Unemployment Patterns in Europe: Does Integration Lead to (Real) Convergence?
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Scholar |
Otros documentos de la autoría: Monfort Bellido, Mercedes; Ordóñez, Javier; Sala Lorda, Héctor
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https://doi.org/10.1007/s11079-018-9488-x |
Metadatos
Título
Inequality and Unemployment Patterns in Europe: Does Integration Lead to (Real) Convergence?Fecha de publicación
2018Editor
Springer VerlagISSN
0923-7992; 1573-708XCita bibliográfica
Monfort, M., Ordóñez, J. & Sala, H. Open Econ Rev (2018) 29: 703. https://doi.org/10.1007/s11079-018-9488-xTipo de documento
info:eu-repo/semantics/articleVersión de la editorial
https://link.springer.com/article/10.1007/s11079-018-9488-xVersión
info:eu-repo/semantics/publishedVersionPalabras clave / Materias
Resumen
The economic convergence criteria adopted in the Maastricht Treaty and the fiscal discipline of the Stability and Growth Pact enforced nominal convergence, leaving aside real convergence indicators. In this paper, we ... [+]
The economic convergence criteria adopted in the Maastricht Treaty and the fiscal discipline of the Stability and Growth Pact enforced nominal convergence, leaving aside real convergence indicators. In this paper, we use cluster analysis to examine the convergence patterns of income inequality, absolute redistribution (a measure of governments’ effectiveness in correcting for inequality) and unemployment. The expected outcome after years of economic integration was, ex-ante, convergence to a single cluster. Our results, however, uncover a variety of groups, implying that economic integration has not led to real economic convergence. Moreover, the existence of different patterns suggests: (i) that traditional classifications (Anglo-Saxon, Continental European, European Periphery, and Nordic models) remain broadly valid; (ii) that there is no unemployment-inequality trade-off to be exploited in terms of economic policy; and (iii) that the redistributive capacity of governments plays a pivotal role in coping with inequality without negative effects in terms of unemployment. [-]
Publicado en
Open Econ Rev (2018) 29Proyecto de investigación
PROMETEOII/201/053 ; AICO/2016/38 ; ECO2017-83255-C3-3-P ; t UJI-B2017-33 ; ECO2016-75623-RDerechos de acceso
http://rightsstatements.org/vocab/CNE/1.0/
info:eu-repo/semantics/restrictedAccess
info:eu-repo/semantics/restrictedAccess
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- IEI_Articles [116]
- ECO_Articles [692]