کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
10153825 | 1666230 | 2018 | 11 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Macroeconomic imbalances and structural change in the EMU
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کلمات کلیدی
موضوعات مرتبط
علوم انسانی و اجتماعی
اقتصاد، اقتصادسنجی و امور مالی
اقتصاد و اقتصادسنجی
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چکیده انگلیسی
Macroeconomic imbalances in the EMU are at the heart of the current crisis. One explanation for the high current account deficits in the Southern European countries is that they lack a large, competitive and export-oriented industrial sector. The paper tests the hypothesis that parts of the structural change which happened in the EU before 2008 were supported by the divergent unit labour cost developments in the EMU. We look into patterns of structural change and sectoral competitiveness in all EU member countries and assess their linkages by means of a descriptive analysis as well as through econometric estimations. Our results broadly support the hypothesis. Industrial policy, which aims at fostering new competitive export-oriented industries in Southern Europe in order to reduce macroeconomic imbalances in the EMU, should thus be combined with adjustments in relative labour costs.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Structural Change and Economic Dynamics - Volume 46, September 2018, Pages 59-69
Journal: Structural Change and Economic Dynamics - Volume 46, September 2018, Pages 59-69
نویسندگان
Stefan Ederer, Peter Reschenhofer,