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When Eastern Labour Markets Enter Western Europe - Ceecs Labour Market Institutions Upon Euro Zone Accession, Joanna Tyrowicz
When Eastern Labour Markets Enter Western Europe - Ceecs Labour Market Institutions Upon Euro Zone Accession, Joanna Tyrowicz
Joanna Tyrowicz
This paper reviews the literature on the labour market institutions in European Union Member States in the context of monetary integration. Traditionally, labour markets are a key concept in the optimal currency area theory, playing the role of the only accommodation mechanism of asymmetric shocks after the monetary unification. There are several theoretical frameworks linking the institutional design of the labour market to the potential effectiveness of monetary policy in the context of currency areas. Many empirical studies addressed these issues too, yielding important policy implications for labour market reforms in the process of monetary unification. However, there seem to …
Optimality And Synchronicity - Where Do We Stand? Oca Theory And Its Empirical Application For Emu, Joanna Tyrowicz
Optimality And Synchronicity - Where Do We Stand? Oca Theory And Its Empirical Application For Emu, Joanna Tyrowicz
Joanna Tyrowicz
Should Poland join EMU? The answer to this question has already been determined by both economists and politicians - by joining EU Poland has agreed to eventually join EMU, which barely any serious economists find to be harmful to our economy. However, the moment of joining the currency union has not been determined and its choice is largely left to the decision of Polish policy makers. Obviously, there are some costs to entering the currency union, as well as some benefits. However, since both the process of accessing and the very participation in the EMU are dynamic in nature, the …