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dc.contributor.author
Mikosch, Heiner
dc.contributor.author
Sturm, Jan-Egbert
dc.date.accessioned
2017-09-27T08:16:33Z
dc.date.available
2017-06-12T10:33:38Z
dc.date.available
2017-09-27T08:16:33Z
dc.date.issued
2011-04
dc.identifier.uri
http://hdl.handle.net/20.500.11850/119244
dc.identifier.doi
10.3929/ethz-a-006435838
dc.description.abstract
By using a model of trade union behaviour Grüner (2010) argues that the introduction of the European Monetary Union (EMU) led to lower wage growth and lower unemployment in participating countries. Following Grüner’s model, monetary centralization lets the central bank react less flexibly to national business cycle movements. This increases the amplitude of national business cycles which, in turn, leads to higher unemployment risk. In order to counter-balance this effect, trade unions lower their claims for wage mark-ups resulting in lower wage growth and lower unemployment. This paper uses macroeconomic data on OECD countries and a difference-in-differences approach to empirically test the implications of this model. Although we come up with some weak evidence for increased business cycle amplitudes within the EMU, we neither find a significant general effect of the EMU on wage growth nor on unemployment.
en_US
dc.format
application/pdf
dc.language.iso
en
en_US
dc.publisher
KOF Swiss Economic Institute, ETH Zurich
dc.rights.uri
http://rightsstatements.org/page/InC-NC/1.0/
dc.subject
LOHNHÖHE
en_US
dc.subject
WÄHRUNGSZONEN
en_US
dc.subject
UNEMPLOYMENT
en_US
dc.subject
CURRENCY AREAS
en_US
dc.subject
MONETARY POLICY
en_US
dc.subject
EUROPÄISCHES WÄHRUNGSSYSTEM + EUROPÄISCHE WÄHRUNGSUNION
en_US
dc.subject
MAKROÖKONOMISCHE MODELLE (OPERATIONS RESEARCH)
en_US
dc.subject
ARBEITSLOSIGKEIT
en_US
dc.subject
SALARY LEVELS
en_US
dc.subject
EUROPEAN MONETARY SYSTEM + EUROPEAN MONETARY UNION
en_US
dc.subject
GELDPOLITIK
en_US
dc.subject
MACROECONOMIC MODELS (OPERATIONS RESEARCH)
en_US
dc.title
Has the EMU Reduced Wage Growth and Unemployment? Testing a Model of Trade Union Behaviour
en_US
dc.type
Working Paper
dc.rights.license
In Copyright - Non-Commercial Use Permitted
ethz.title.subtitle
testing a model of trade union behavior
en_US
ethz.journal.title
KOF Working Papers
ethz.journal.volume
280
en_US
ethz.size
29 p.
en_US
ethz.code.ddc
DDC - DDC::3 - Social sciences::330 - Economics
en_US
ethz.identifier.nebis
006435838
ethz.publication.place
Zürich
en_US
ethz.publication.status
published
en_US
ethz.leitzahl
ETH Zürich::00002 - ETH Zürich::00012 - Lehre und Forschung::00007 - Departemente::02120 - Dep. Management, Technologie und Ökon. / Dep. of Management, Technology, and Ec.::02525 - KOF Konjunkturforschungsstelle / KOF Swiss Economic Institute
en_US
ethz.leitzahl.certified
ETH Zürich::00002 - ETH Zürich::00012 - Lehre und Forschung::00007 - Departemente::02120 - Dep. Management, Technologie und Ökon. / Dep. of Management, Technology, and Ec.::02525 - KOF Konjunkturforschungsstelle / KOF Swiss Economic Institute
ethz.tag
KOF-key-inflation
ethz.date.deposited
2017-06-12T10:38:39Z
ethz.source
ECOL
ethz.source
ECIT
ethz.identifier.importid
imp59366b00e348565684
ethz.identifier.importid
imp5936549d1df9c50030
ethz.ecolpid
eth:2669
ethz.ecitpid
pub:181248
ethz.eth
yes
en_US
ethz.availability
Open access
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ethz.rosetta.installDate
2017-07-14T23:35:09Z
ethz.rosetta.lastUpdated
2020-02-15T07:34:06Z
ethz.rosetta.exportRequired
true
ethz.rosetta.versionExported
true
ethz.COinS
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