Year: 1999
Type: preprint
Abstract: With the restraints on both monetary and fiscal policy in Stage 3 of Economic and Monetary Union great pressure is put on structural policies and the operation of the labour market in particular to limit the adverse impact of asymmetric shocks and economic fluctuations.This paper contrasts the position of Finland, which is the only part of Northern Europe in the euro area with other parts of the region and similar regions.Drawing on earlier work on the flexibility of the Finnish economy (Vilmunen and Mayes, 1998) this paper explores whether the form of centralised bargaining practised in the region offers an adequate ability to respond to the prospective shocks.
Authors: Juha Kilponen, David G. Mayes, Jouko Vilmunen
Institution: Bank of Finland
Language: English
Subfield: Industrial relations
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W1554406158