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http://hdl.handle.net/10419/49922
  
Title:One country, one vote? Labor market structure and voting rights in the ECB PDF Logo
Authors:Berger, Helge
Hefeker, Carsten
Issue Date:2004
Series/Report no.:School of Business & Economics Discussion Paper: Economics 2004/10
Abstract:The pending enlargement of the European Monetary Union (EMU) has brought to the fore the discussion of the voting right distribution in the European Central Bank (ECB) council. We show that, in a model where labor unions internalize the inflationary consequences of wage setting, deviating from a voting scheme based purely on economic size can be beneficial. Preliminary evidence on unemployment and voting rights in the ECB council seems broadly in line with this idea. We also point to possible policy implications for EMU enlargement and ECB restructuring.
Subjects:monetary policy
wage setting
European Monetary Union
European Central Bank
euro area
ECB reform
EMU enlargement
accession countries
JEL:D72
E58
Document Type:Working Paper
Appears in Collections:Diskussionsbeiträge, FB Wirtschaftswissenschaft, FU Berlin

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