The Euro and Structural Reforms*
38 Pages Posted: 19 Nov 2008
Date Written: November 18, 2008
Abstract
This paper investigates whether or not the adoption of the Euro has facilitated the introduction of structural reforms, defined as deregulation in the product markets and liberalization and deregulation in the labor markets. After reviewing the theoretical arguments that may link the adoption of the Euro and structural reforms, we investigate the empirical evidence. We find that the adoption of the Euro has been associated with an acceleration of the pace of structural reforms in the product market. The adoption of the Euro does not seem to have accelerated labor market reforms in the "primary labor market;" however, the run up to the Euro adoption seems to have been accompanied by wage moderation. We also investigate issues concerning the sequencing of goods and labor market reforms.
Keywords: Euro, structural reforms, deregulation, European labor markets
Suggested Citation: Suggested Citation
Do you have negative results from your research you’d like to share?
Recommended Papers
-
The Euro and Firm Restructuring
By Matteo Bugamelli, Fabiano Schivardi, ...
-
The Euro and Firm Restructuring
By Matteo Bugamelli, Fabiano Schivardi, ...
-
The Euro and Firm Restructuring
By Matteo Bugamelli, Roberta Zizza, ...
-
The Euro and Firm Restructuring
By Matteo Bugamelli, Fabiano Schivardi, ...
-
The Pro-Competitive Effect of Imports from China: An Analysis of Firm-Level Price Data
By Matteo Bugamelli, Silvia Fabiani, ...
-
The Euro and Structural Reforms
By Alberto F. Alesina, Silvia Ardagna, ...
-
A New Indicator of Competitiveness for Italy and the Main Industrial and Emerging Countries
By Andrea Finicelli, Alessandra Liccardi, ...
-
By Ansgar Hubertus Belke, Bernhard Herz, ...
-
The Politics of Monetary Policy
By Alberto F. Alesina and Andrea Stella