Has the European Monetary Union stimulated labor market reforms leading Eurozone countries to converge?
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Título
Has the European Monetary Union stimulated labor market reforms leading Eurozone countries to converge?Autoría
Tutor/Supervisor
Camarero, MariamTutor/Supervisor; Universidad.Departamento
Universitat Jaume I. Departament d'EconomiaFecha de publicación
2015-06-16Editor
Universitat Jaume IResumen
The movement from the Original to the Endogenous Optimum Currency Areas (OCA) theory implied that candidates for a monetary union were not required to comply with a number of economic conditions before the incorporation, ... [+]
The movement from the Original to the Endogenous Optimum Currency Areas (OCA) theory implied that candidates for a monetary union were not required to comply with a number of economic conditions before the incorporation, but they would do it once they became members. Although there are multiple endogeneity channels, this paper investigates the labor market one. According to this strand of literature, the creation of a monetary union could stimulate countries to increase flexibility in their labor markets, leading them to converge. Using thirty-three years of data for twenty-two industrialized countries, we find a positive and growing relationship between labor market reforms and income correlations. However, this positive relationship vanishes in the case of peripheral Eurozone countries as compared to Germany. In addition, their unemployment rate correlations have become negative, that is EMU has not stimulated labor market reforms in these countries: the monetary union has not endogenously generated the mechanism to activate a better functioning of the labor market. [-]
Palabras clave / Materias
Descripción
Treball Final de Grau en Economia. Codi: EC1049. Curs: 2014-2015
Tipo de documento
info:eu-repo/semantics/bachelorThesisDerechos de acceso
info:eu-repo/semantics/openAccess
Aparece en las colecciones
- Grau en Economia [292]
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