Krugman, Paul, (2015), “The Downside of Labor Mobility”, NY Times blog, 14 Αυγούστου
The theory of optimum currency areas is one of those old-fashioned pieces of macroeconomics — like IS-LM, the concept of the liquidity trap, and the theory of secular stagnation — that has turned out to be extremely relevant and useful to the world since 2008. So this is a version of Mark Thoma’s dictum that new economic thinking involves reading old books (or in this case articles). Still, we do learn some new things. And what we’ve learned lately, I’d argue, is that labor mobility — which was supposed to be good, and a prerequisite for currency union — is actually much more problematic than we knew.
Σχετικές Αναρτήσεις
- Krugman, Paul, (2015), “Europe Wins”, New York Times blog, 5 Ιουλίου
- Barslund, M. & Busse, M. (2014) “Making the Most of EU Labour Mobility“, Social welfare policies, CEPS Task Force Reports, 07 Οκτωβρίου.