On the Incentives for Structural Reform in the European Monetary Union
In a previous research programme on enlargement of the Economic and Monetary Union (EMU) in Europe, we focussed explicitly on two central themes: the incentives to join the EMU; and the incentives to reform within the EMU and within the candidate countries. Our research has yielded new insights into both questions, including some “orders of magnitude” evidence on the size and balance of the incentive effects for joining and being joined; and on the desirability of reform in an out of the existing union.
You can read the Journal article On the Role of Labour Market Reform for the Enlargement of a Monetary Union, CESIfo Economic Studies, Vol. 49, 3/2003, 355–379, Andrew Hughes Hallett & Svend E. Hougaard Jensen here