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dc.contributor.authorPosen, Adam S.en
dc.contributor.authorPopov Gould, Danielen
dc.date.accessioned2006-09-06-
dc.date.accessioned2009-07-28T08:12:38Z-
dc.date.available2009-07-28T08:12:38Z-
dc.date.issued2006-
dc.identifier.urihttp://hdl.handle.net/10419/25828-
dc.description.abstractWe find in cross-sectional investigations that wage restraint is either unchanged or increased following EMU in the vast majority of countries. This contradicts the predictions of a widelycited family of models of labor market bargaining. In those, Germany would have been expected to display the greatest decline in wage restraint post-EMU, and we find no indication of such a decline. The time-series evidence on Italy shows a significant increase in wage restraint after eurozone entry. This pattern is consistent with the models that emphasise the gains from monetary credibility. The eurozone increase in wage restraint is matched by the increase seen in the UK and Sweden after adopting inflation targeting, another means to credibility.en
dc.language.isoengen
dc.publisher|aCenter for Economic Studies and ifo Institute (CESifo) |cMunichen
dc.relation.ispartofseries|aCESifo Working Paper |x1783en
dc.subject.jelE58en
dc.subject.jelE25en
dc.subject.jelJ58en
dc.subject.ddc330en
dc.subject.stwLohnverhandlungenen
dc.subject.stwLohnen
dc.subject.stwProduktivitäten
dc.subject.stwEuropäische Wirtschafts- und Währungsunionen
dc.subject.stwEU-Staatenen
dc.titleHas EMU had any impact on the degree of wage restraint?-
dc.typeWorking Paperen
dc.identifier.ppn517037890en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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