How bad is divergence in the euro zone? Lessons from the United States and Germany

Link:
Autor/in:
Erscheinungsjahr:
2009
Medientyp:
Text
Schlagworte:
  • Current account
  • Global imbalances
  • Account imbalances
  • Monetary Policy
  • Economic Growth
  • Exports
  • Current account
  • Global imbalances
  • Account imbalances
  • Monetary Policy
  • Economic Growth
  • Exports
Beschreibung:
  • This paper compares relative unit labor cost developments in the of the euro area since the beginning of the European Monetary Union (EMU)both with historical developments and with intraregional developments the United States and Germany. Unit labor cost indices for the U.S. states and regions from 1977 to 1997 as well as for the German Länder from 1970 2004 have been constructed. It is found that unit labor cost increases since in Portugal, and to a lesser extent,in Spain and Greece can be judged as,which might impair a smooth working of the EMU in the future. © 2009 M.E. Sharpe, Inc.
Lizenz:
  • info:eu-repo/semantics/closedAccess
Quellsystem:
Forschungsinformationssystem der UHH
Interne Metadaten
Quelldatensatz
oai:www.edit.fis.uni-hamburg.de:publications/0a560048-6789-4c33-8047-f19437553ffd