Jump to ContentJump to Main Navigation
From Convergence to Crisis
Users without a subscription are not able to see the full content.

From Convergence to Crisis: Labor Markets and the Instability of the Euro

Alison Johnston

Abstract

What explains Eurozone member-states' divergent exposure to Europe's sovereign debt crisis? Deviating from current fiscal and financial views, this book focuses on labor markets in a narrative that distinguishes the winners from the losers in the euro crisis. The book argues that Europe's monetary union was structured in a way that advantaged the corporatist labor markets of its northern economies in external trade and financial lending. Northern Europe's distinct economic advantage lay not with its fiscal capabilities, which were not that different from those of southern Eurozone countries, b ... More

Keywords: euro crisis, Eurozone, sovereign debt crisis, labor markets, monetary union, European Monetary System, common currency, Europe

Bibliographic Information

Print publication date: 2016 Print ISBN-13: 9781501702655
Published to Cornell Scholarship Online: January 2017 DOI:10.7591/cornell/9781501702655.001.0001

Authors

Affiliations are at time of print publication.

Alison Johnston, author
Oregon State University