Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/102215
Authors: 
Bertola, Giuseppe
Year of Publication: 
2014
Series/Report no.: 
CESifo Working Paper 4919
Abstract: 
Race-to-the-bottom deregulation is to be expected when markets operate across the borders of countries that independently choose and enforce labor policies. Less obviously, in pre-crisis EMU reforms of labor market policies were uneven and related to international imbalances. That pattern is readily explained by this paper's model of financial integration between differently capital-abundant countries, within which labor policies benefit individuals with wealth/labor income ratios different from country's aggregate.
Subjects: 
policy competition
public choice
JEL: 
F00
J38
Document Type: 
Working Paper

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