This paper analyses the implications of heterogeneity in the type of downward wage rigidity
(nominal or real) for optimal monetary policy in a monetary union with asymmetric wage …

How does the asymmetry of labor market institutions affect the adjustment of a currency
union to shocks? To answer this question, this paper sets up a dynamic currency union …

Our study tries to find out whether wage dynamics between Euro member countries became
more synchronized through the adoption of the common currency. We calculate bivarate …

W postępowaniu badawczym weryfikacji poddano następujące hipotezy: w ramach UGW
występuje istotny wzrost homogeniczności struktur rynku pracy i ich upodabnianie się …

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 …

I construct a New Keynesian, two-country model with labour market frictions in the search
and matching process and real wage rigidity. I then analyse quantitatively the optimal …

This paper investigates the welfare consequences of labor-market convergence reforms for
a large range of calibrations in a two-country monetary-union DSGE model with search and …

We assume a world of two countries in a fixed exchange rate system. These countries differ
in the features of their labor markets. The home country is characterized by a dual labor …

This article explores the optimal rate of trend inflation in open economies with and without a
monetary union, accounting for empirically observed differences in the degree of price …

In the Eurozone price stickiness differs among countries. I explore its consequences on the
optimal rate of inflation in a two-country model. On the one hand, with local currencies an …