Are Labour Markets in the New Member States Sufficiently Flexible for EMU ?

@inproceedings{Boeri2005AreLM,
  title={Are Labour Markets in the New Member States Sufficiently Flexible for EMU ?},
  author={Tito Boeri},
  year={2005}
}
  • Tito Boeri
  • Published 2005
New Member States (NMS) coming from central planning are often advised against early Euro adoption because of their rigid labour markets. But are labour markets so rigid in these countries? We argue in this paper that this is not the case. Labour market institutions are no more “rigid” than among current EMU Members whilst wage bargaining institutions are actually better equipped for microeconomic wage flexibility than in the EU-15. NMS also achieved substantial reallocation of jobs and workers… CONTINUE READING

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