The Resource From convergence to crisis : labor markets and the instability of the euro, Alison Johnston
From convergence to crisis : labor markets and the instability of the euro, Alison Johnston
Resource Information
The item From convergence to crisis : labor markets and the instability of the euro, Alison Johnston represents a specific, individual, material embodiment of a distinct intellectual or artistic creation found in Massey University Library, University of New Zealand.This item is available to borrow from 1 library branch.
Resource Information
The item From convergence to crisis : labor markets and the instability of the euro, Alison Johnston represents a specific, individual, material embodiment of a distinct intellectual or artistic creation found in Massey University Library, University of New Zealand.
This item is available to borrow from 1 library branch.
- Summary
- What explains Eurozone member-states' divergent exposure to Europe’s sovereign debt crisis? Deviating from current fiscal and financial views, From Convergence to Crisis focuses on labor markets in a narrative that distinguishes the winners from the losers in the euro crisis. Alison Johnston argues that Europe’s monetary union was structured in a way that advantaged the corporatist labor markets of its northern economies in external trade and financial lending. Northern Europe’s distinct economic advantage lay not with its fiscal capabilities, which were not that different from those of southern Eurozone countries, but with its wage-setting institutions. Through highly coordinated collective bargaining, the euro North persistently undercut the inflation performance of southern trading partners, destining them to a perpetual cycle of competitive decline and external borrowing. While northern Europe’s corporatist labor markets were always low inflation performers, monetary union ultimately made their wage-setting institutions toxic for the South. The euro’s institutional predecessor, the European Monetary System, included economic and institutional mechanisms that facilitated macroeconomic adjustment and convergence between the common currency’s corporatist and noncorporatist economies. Combining cross-national statistical analysis with detailed qualitative case studies of Denmark, Germany, Italy, Ireland, the Netherlands, and Spain, Johnston reveals that monetary union’s removal of these mechanisms allowed external imbalances between these two blocs to grow unchecked, underpinning the crisis in which Europe currently finds itself. Rather than achieving the EU’s goal of an ever-closer union, the common currency produced a monetary environment that destabilized the economic integration of its diverse labor markets
- Language
- eng
- Extent
- 1 online resource
- Contents
-
- Incomplete monetary union and Europe's current crisis
- From order to disorder : how monetary union changed national labor markets
- Monetary regimes, sectoral wage relations and the current account crisis in the EMU south : empirical evidence
- National central banks promoting inflation convergence : Danish and Dutch experiences inside and outside of the euro
- Wage setting politics favoring exports : German, Dutch and Italian experiences under EMU
- Wage-drift and sheltered-sector politics under a common currency : the Irish and Spanish experiences
- EMU, the politics of wage inflation and crisis : implications for current debates and policy
- Isbn
- 9781501703775
- Label
- From convergence to crisis : labor markets and the instability of the euro
- Title
- From convergence to crisis
- Title remainder
- labor markets and the instability of the euro
- Statement of responsibility
- Alison Johnston
- Language
- eng
- Summary
- What explains Eurozone member-states' divergent exposure to Europe’s sovereign debt crisis? Deviating from current fiscal and financial views, From Convergence to Crisis focuses on labor markets in a narrative that distinguishes the winners from the losers in the euro crisis. Alison Johnston argues that Europe’s monetary union was structured in a way that advantaged the corporatist labor markets of its northern economies in external trade and financial lending. Northern Europe’s distinct economic advantage lay not with its fiscal capabilities, which were not that different from those of southern Eurozone countries, but with its wage-setting institutions. Through highly coordinated collective bargaining, the euro North persistently undercut the inflation performance of southern trading partners, destining them to a perpetual cycle of competitive decline and external borrowing. While northern Europe’s corporatist labor markets were always low inflation performers, monetary union ultimately made their wage-setting institutions toxic for the South. The euro’s institutional predecessor, the European Monetary System, included economic and institutional mechanisms that facilitated macroeconomic adjustment and convergence between the common currency’s corporatist and noncorporatist economies. Combining cross-national statistical analysis with detailed qualitative case studies of Denmark, Germany, Italy, Ireland, the Netherlands, and Spain, Johnston reveals that monetary union’s removal of these mechanisms allowed external imbalances between these two blocs to grow unchecked, underpinning the crisis in which Europe currently finds itself. Rather than achieving the EU’s goal of an ever-closer union, the common currency produced a monetary environment that destabilized the economic integration of its diverse labor markets
- http://library.link/vocab/creatorDate
- 1982-
- http://library.link/vocab/creatorName
- Johnston, Alison
- Dewey number
- 331.1094
- Index
- index present
- Language note
- In English
- Literary form
- non fiction
- Nature of contents
-
- dictionaries
- bibliography
- Series statement
- Cornell studies in money
- http://library.link/vocab/subjectName
-
- Economic and Monetary Union
- Monetary policy
- Labor market
- Financial crises
- Euro
- Label
- From convergence to crisis : labor markets and the instability of the euro, Alison Johnston
- Antecedent source
- unknown
- Bibliography note
- Includes bibliographical references and index
- Color
- multicolored
- Contents
- Incomplete monetary union and Europe's current crisis -- From order to disorder : how monetary union changed national labor markets -- Monetary regimes, sectoral wage relations and the current account crisis in the EMU south : empirical evidence -- National central banks promoting inflation convergence : Danish and Dutch experiences inside and outside of the euro -- Wage setting politics favoring exports : German, Dutch and Italian experiences under EMU -- Wage-drift and sheltered-sector politics under a common currency : the Irish and Spanish experiences -- EMU, the politics of wage inflation and crisis : implications for current debates and policy
- Control code
- ocn950613715
- Dimensions
- unknown
- Extent
- 1 online resource
- File format
- unknown
- Form of item
- online
- Isbn
- 9781501703775
- Level of compression
- unknown
- Quality assurance targets
- not applicable
- Reformatting quality
- unknown
- Sound
- unknown sound
- Specific material designation
- remote
- System control number
- (OCoLC)950613715
- Label
- From convergence to crisis : labor markets and the instability of the euro, Alison Johnston
- Antecedent source
- unknown
- Bibliography note
- Includes bibliographical references and index
- Color
- multicolored
- Contents
- Incomplete monetary union and Europe's current crisis -- From order to disorder : how monetary union changed national labor markets -- Monetary regimes, sectoral wage relations and the current account crisis in the EMU south : empirical evidence -- National central banks promoting inflation convergence : Danish and Dutch experiences inside and outside of the euro -- Wage setting politics favoring exports : German, Dutch and Italian experiences under EMU -- Wage-drift and sheltered-sector politics under a common currency : the Irish and Spanish experiences -- EMU, the politics of wage inflation and crisis : implications for current debates and policy
- Control code
- ocn950613715
- Dimensions
- unknown
- Extent
- 1 online resource
- File format
- unknown
- Form of item
- online
- Isbn
- 9781501703775
- Level of compression
- unknown
- Quality assurance targets
- not applicable
- Reformatting quality
- unknown
- Sound
- unknown sound
- Specific material designation
- remote
- System control number
- (OCoLC)950613715
Library Links
Embed (Experimental)
Settings
Select options that apply then copy and paste the RDF/HTML data fragment to include in your application
Embed this data in a secure (HTTPS) page:
Layout options:
Include data citation:
<div class="citation" vocab="http://schema.org/"><i class="fa fa-external-link-square fa-fw"></i> Data from <span resource="http://link.massey.ac.nz/portal/From-convergence-to-crisis--labor-markets-and/fO25XHJkDJg/" typeof="Book http://bibfra.me/vocab/lite/Item"><span property="name http://bibfra.me/vocab/lite/label"><a href="http://link.massey.ac.nz/portal/From-convergence-to-crisis--labor-markets-and/fO25XHJkDJg/">From convergence to crisis : labor markets and the instability of the euro, Alison Johnston</a></span> - <span property="potentialAction" typeOf="OrganizeAction"><span property="agent" typeof="LibrarySystem http://library.link/vocab/LibrarySystem" resource="http://link.massey.ac.nz/"><span property="name http://bibfra.me/vocab/lite/label"><a property="url" href="http://link.massey.ac.nz/">Massey University Library, University of New Zealand</a></span></span></span></span></div>
Note: Adjust the width and height settings defined in the RDF/HTML code fragment to best match your requirements
Preview
Cite Data - Experimental
Data Citation of the Item From convergence to crisis : labor markets and the instability of the euro, Alison Johnston
Copy and paste the following RDF/HTML data fragment to cite this resource
<div class="citation" vocab="http://schema.org/"><i class="fa fa-external-link-square fa-fw"></i> Data from <span resource="http://link.massey.ac.nz/portal/From-convergence-to-crisis--labor-markets-and/fO25XHJkDJg/" typeof="Book http://bibfra.me/vocab/lite/Item"><span property="name http://bibfra.me/vocab/lite/label"><a href="http://link.massey.ac.nz/portal/From-convergence-to-crisis--labor-markets-and/fO25XHJkDJg/">From convergence to crisis : labor markets and the instability of the euro, Alison Johnston</a></span> - <span property="potentialAction" typeOf="OrganizeAction"><span property="agent" typeof="LibrarySystem http://library.link/vocab/LibrarySystem" resource="http://link.massey.ac.nz/"><span property="name http://bibfra.me/vocab/lite/label"><a property="url" href="http://link.massey.ac.nz/">Massey University Library, University of New Zealand</a></span></span></span></span></div>
