Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/25828
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dc.contributor.authorPosen, Adam S.en_US
dc.contributor.authorPopov Gould, Danielen_US
dc.date.accessioned2006-09-06en_US
dc.date.accessioned2009-07-28T08:12:38Z-
dc.date.available2009-07-28T08:12:38Z-
dc.date.issued2006en_US
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_US
dc.language.isoengen_US
dc.publisher|aCenter for Economic Studies and Ifo Institute (CESifo) |cMunichen_US
dc.relation.ispartofseries|aCESifo working paper|x1783en_US
dc.subject.jelE58en_US
dc.subject.jelE25en_US
dc.subject.jelJ58en_US
dc.subject.ddc330en_US
dc.subject.stwLohnverhandlungenen_US
dc.subject.stwLohnen_US
dc.subject.stwProduktivitäten_US
dc.subject.stwEuropäische Wirtschafts- und Währungsunionen_US
dc.subject.stwEU-Staatenen_US
dc.titleHas EMU had any impact on the degree of wage restraint?en_US
dc.type|aWorking Paperen_US
dc.identifier.ppn517037890en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-

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