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  The Diversity of Wage Regimes: Why the Eurozone Is Too Heterogeneous for the Euro

Höpner, M., & Lutter, M. (2018). The Diversity of Wage Regimes: Why the Eurozone Is Too Heterogeneous for the Euro. European Political Science Review, 10(1), 71-96. doi:10.1017/S1755773916000217.

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 Urheber:
Höpner, Martin1, Autor           
Lutter, Mark2, Autor           
Affiliations:
1Politische Ökonomie der europäischen Integration, MPI for the Study of Societies, Max Planck Society, ou_1856345              
2Transnationale Diffusion von Innovationen, MPI for the Study of Societies, Max Planck Society, ou_2054288              

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Schlagwörter: European integration; European Monetary Union; macroeconomic policy; wage bargaining; labor regimes; corporatism
 Zusammenfassung: Why did the transnational synchronization of wage inflations fail during the first 10 years of the euro? We analyze data from 1999 to 2008 for 12 euro members and estimate increases of nominal unit labor costs both in the overall economy and in manufacturing as dependent variables. While our analysis confirms that differences in economic growth shaped the inflation of labor costs, we add a political-institutional argument to the debate and argue that the designs of the wage regimes had an additional, independent impact. In coordinated labor regimes, increases in nominal unit labor costs tended to fall below the European Central Bank’s inflation target, while in uncoordinated labor regimes, the respective increases tended to exceed the European inflation target. Due to the stickiness of wagebargaining institutions, the lack of the capacity to synchronize inflation is not likely to disappear in the foreseeable future.

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Sprache(n): eng - English
 Datum: 2017-03-072018
 Publikationsstatus: Erschienen
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 Ort, Verlag, Ausgabe: -
 Inhaltsverzeichnis: -
 Art der Begutachtung: Expertenbegutachtung
 Identifikatoren: DOI: 10.1017/S1755773916000217
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Titel: European Political Science Review
Genre der Quelle: Zeitschrift
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Seiten: - Band / Heft: 10 (1) Artikelnummer: - Start- / Endseite: 71 - 96 Identifikator: ISSN: 1755-7739
ISSN: 1755-7747