Arbeitspapier
Competitiveness, adjustment and macroeconomic risk management in the eurozone
Gaps in competitiveness, rooted in economic as well as in political factors, characterise postwar European economic history. The eurozone experience showed the emergence of large current account imbalances. The peculiar mixture of financial markets integration and national cycles in wages and prices gave rise to severe macroeconomic instability. The Swan Diagram is used to analyse alternative adjustment policies. Although there are signs of convergence in wage costs, the overall picture of EMU remains somewhat gloomy, requiring the decision between full political union or a renewed gold standard.
- Language
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Englisch
- Bibliographic citation
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Series: ROME Discussion Paper Series ; No. 13-16
- Classification
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Wirtschaft
- Subject
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Currency union
euro crisis
current account imbalances
wage policy
Swan diagram
- Event
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Geistige Schöpfung
- (who)
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Spahn, Peter
- Event
-
Veröffentlichung
- (who)
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Research On Money in the Economy (ROME)
- (where)
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s.l.
- (when)
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2013
- Handle
- Last update
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10.03.2025, 11:45 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Spahn, Peter
- Research On Money in the Economy (ROME)
Time of origin
- 2013
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