The Euro-What Impact Will It Have on European Labor Markets: Perspectives on a Global Economy
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Authors:
Bart van Ark
Robert H. McGuckin, III -
Publication Date:
February 1999 -
Report Number:
R-1236-99-RR
Unlike the United States, Europe has experienced reductions in the number of hours of work as well as lower proportions of the total population actually in the work force in the past decade. These adverse developments take on new importance with the launch of the Euro. Most commentators agree that the new common currency will reduce transaction costs and intensify trade across Europe. But the introduction of the Euro also restricts the range of policy options open to individual European countries and will place more pressure on national labor markets. This report discusses patterns that appear likely to emerge with particular focus on labor markets. (20 pages)