Labour costs dynamics in the Euro area: some empirical evidence

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dc.contributor.authorGouveia, Sofia Helena Cerqueira dept_PT
dc.contributor.authorCorreia, Leonida Amaral Tomaspt_PT
dc.date.accessioned2020-10-12T13:42:12Z
dc.date.available2020-10-12T13:42:12Z
dc.date.issued2013
dc.description.abstractLittleisknownabouthowtheintroductionofacommoncurrencyandasingle monetary policy has affected the labour cost dynamics in the Euro area. The literature has focused mainly on business cycle synchronisation. This paper analyses labour costs convergence in the Euro area since 1995, combining results from different data and two complementary approaches. First we present some relevant facts about wages and unit labour cost dynamics and, in a second phase, we investigate whether the physical introduction of the euro has changed the volatility and the synchronisation of labour costs cycles, in a context of globalisation. Overall, our results indicate that labour markets in the Euro area are very heterogeneous. However, some signs of labour cost convergence are beginning to emerge. After the circulation of the euro, it seems that a reduction in nominal unit labour costs differences and an increase on the degree of synchronisation has occurred, which has been strengthened in the economic and financial crisis period.pt_PT
dc.identifier.other10.1007/s10368-013-0232-0
dc.identifier.urihttp://hdl.handle.net/10348/10127
dc.language.isoengpt_PT
dc.peerreviewedyespt_PT
dc.relation.ispartofCETRAD - Centro de Estudos Transdisciplinares para o Desenvolvimentopt_PT
dc.rightsopen accesspt_PT
dc.subjectunit labour costspt_PT
dc.subjectsynchronisationpt_PT
dc.subjecteuropean integrationpt_PT
dc.subjectOCA endogeneitypt_PT
dc.titleLabour costs dynamics in the Euro area: some empirical evidencept_PT
dc.typejournal articlept_PT
degois.publication.firstPage323pt_PT
degois.publication.issue3pt_PT
degois.publication.lastPage347pt_PT
degois.publication.locationAlemanhapt_PT
degois.publication.titleInternational Economics and Economic Policypt_PT
degois.publication.volume10pt_PT
dspace.entity.typePublicationen
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