Dullien, Sebastien (2002) Is Small Really Beautiful? Explaining Different Performances in Battling Unemployment within EMU. In: UNSPECIFIED, Florence, Italy.
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Abstract
This paper asks why unemployment performance in small EMU countries has been superior to that in large EMU countries. Within a model of monopolistic competition, it is shown that a possible answer is a beggaring-thy-neighbor policy by the small countries. When dropping the real balance effect from a standard model of monopolistic competition, it is found that a monopoly union in a large economy cannot influence employment and output by changing nominal wages. The union in a small country which is in a monetary union with a large country, on the other hand, can increase output and employment by wage restraint.
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| Item Type: | Conference or Workshop Item (UNSPECIFIED) |
|---|---|
| Uncontrolled Keywords: | Monopoly union. |
| Subjects for non-EU documents: | EU policies and themes > Policies & related activities > employment/labour market > employment/unemployment EU policies and themes > Policies & related activities > economic and financial affairs > EMU/EMS/euro |
| Subjects for EU documents: | UNSPECIFIED |
| EU Series and Periodicals: | UNSPECIFIED |
| EU Annual Reports: | UNSPECIFIED |
| Conference: | European Political-economy Infrastructure Consortium (EPIC) > 2nd EPIC Cohort of Doctoral Researchers Workshop 3 |
| Depositing User: | Phil Wilkin |
| Official EU Document: | No |
| Language: | English |
| Date Deposited: | 17 Jul 2003 |
| Page Range: | p. 16 |
| Last Modified: | 15 Feb 2011 17:16 |
| URI: | http://aei.pitt.edu/id/eprint/729 |
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