Factor mobility, European integration and unemployment
Center for European Policy Studies, 1998 - Business & Economics - 29 pages
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5nter adjustment to shocks argument asymmetric shocks average behaviour Blanchard and Katz business cycle capital central bank conclusion costs of moving degree of labour deviation of unemployment Eichengreen Emigration equalise euro European countries European integration European Union Eurostat external Factor Mobility factors of production Figure flexible exchange rates foreign workers Germany hence higher impact incentive industrial inflation inter-regional migration international labour mobility international migration intra-EU Italy labour force labour market labour migration longer low in Europe lower market integration member countries mobility in Europe Molise monetary policy monetary regime monetary union movement Mundell national labour unions nominal unit labour nominal wage NUTS 1 regions NUTS2 OECD optimum currency area organisation overall product markets rate of in-migration real wages Receiving Countries Spain standard deviation Table trade unions Treaty of Rome unemployment differences Unemployment in Percent unemployment problem unemployment rates variability wage demands wage increases wage setting