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Is Small Really Beautiful? Explaining Different Performances in Battling Unemployment within EMU

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: UNSPECIFIED
    ["eprint_fieldname_eusries" not defined]: 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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