Optimal adjustment paths in a monetary union
"Adjustment to an external imbalance is more difficult within a monetary union if wages are sticky. Periods of high unemployment are usually necessary to achieve the required real depreciation (internal devaluation). Gradual adjustment is usually recommended to distribute the output and employm...
| Main Authors: | , |
|---|---|
| Institution: | ETUI-European Trade Union Institute |
| Format: | TEXT |
| Language: | English |
| Published: |
Brussels
2016
CEPS |
| Subjects: | |
| Online Access: | https://www.labourline.org/KENTIKA-043012486129-optimal-adjustment-paths-in-a-.htm |
