IMF Working Papers Volume 1999 Issue 131: EMU Challenges European Labor Markets (1999)

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EMU Challenges European Labor Markets

Author:

Christiane Krieger-Boden

Christiane Krieger-Bodennull

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Dirk Dohse

Dirk Dohsenull

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Rüdiger Soltwedel

Rüdiger Soltwedelnull

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Series:: IMF Working Papers

Volume/Issue:: Volume 1999: Issue 131

Publication Date:: 01 Sep 1999

DOI:: https://doi.org/10.5089/9781451855265.001

ISBN:: 9781451855265

ISSN:: 1018-5941

Pages:: 50

Keywords:: WP; business organization; wage flexibility; formation system; wage policy; collective bargaining; EU member states; indexation mechanism; European monetary union; regional labor markets; adjustment to shocks; shaping pay system; single currency; wage indexation mechanism; branch wage agreement; wage-bargaining system; labor market flexibility; wage equalization; wage dumping; wage formation process; EU member government; pay system; Labor markets; Unemployment; Labor market flexibility; Monetary unions; Employment; Europe

Legal-disclaimer:: IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.

Series:: IMF Working Papers

Volume/Issue:: Volume 1999: Issue 131

Language:: English

Publication Date:: 01 Sep 1999

DOI:: https://doi.org/10.5089/9781451855265.001

ISBN:: 9781451855265

ISSN:: 1018-5941

Pages:: 50

Keywords:: WP; business organization; wage flexibility; formation system; wage policy; collective bargaining; EU member states; indexation mechanism; European monetary union; regional labor markets; adjustment to shocks; shaping pay system; single currency; wage indexation mechanism; branch wage agreement; wage-bargaining system; labor market flexibility; wage equalization; wage dumping; wage formation process; EU member government; pay system; Labor markets; Unemployment; Labor market flexibility; Monetary unions; Employment; Europe

Legal-disclaimer:: IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.

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This paper discusses the challenges that European Monetary Union (EMU) poses for European labor markets, emphasizing in particular the regional dimension of the European unemployment problem. The authors argue that the inability of labor markets to adjust to shocks is largely a regional problem within EMU member countries, requiring structural reforms to enhance labor market flexibility but also a decentralization of competencies and greater diversity of labor market outcomes. Any attempt to successfully reform European labor markets and “make them fit for EMU” has to take into account the regional–and even a more decentralized firm–perspective.

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IMF Working Papers

ISSN:: 1018-5941

Publisher:: International Monetary Fund

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