Labor policies and capital mobility in theory and in EMU
| Autor: | Giuseppe Bertola |
|---|---|
| Rok vydání: | 2016 |
| Předmět: |
Economics and Econometrics
Inequality media_common.quotation_subject Politico-economic equilibrium Monetary economics Public choice jel:F00 0502 economics and business Economics policy competition public choice jel:J08 050207 economics 050205 econometrics media_common Market deregulation Policy competition 05 social sciences Financial integration jel:F36 policy competition public choice Finance Capital (economics) jel:J38 Economic and monetary union Welfare |
| Zdroj: | European Economic Review. 87:62-77 |
| ISSN: | 0014-2921 |
| Popis: | Europe׳s Economic and Monetary Union (EMU) was characterized by large international imbalances and uneven national labor market reforms. In this paper׳s model, labor policies that aim to increase the welfare of capital-poor individuals within each country are influenced by financial integration across differently capital-abundant countries. The model predicts that capital outflows should be associated with labor market deregulation, as was the case in EMU, and helps interpret inequality developments and policy tensions in that experience. |
| Databáze: | OpenAIRE |
| Externí odkaz: |
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