The shameful rate of unemployment in the EMS: causes and cures

Article Abstract:

A study sought to analyze the causes of the mass unemployment that Europe is currently facing. Although the rise in unemployment in the early 1980s was due to inflation occasioned by two oil crises, the latest unemployment dilemma is being attributed to high long-term interest rates produced by a shortage of real money supply. Coupled with a fiscal policy that is too tight for Europe's monetary policy, insufficient aggregate demand and, consequently, insufficient quantity of jobs and vacancies led to mass unemployment. The suggested cure is for rate cuts to be mandated.

Unemployment, Europe, Causes of, Employment

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Trade liberalization with imperfect competition in goods and labour markets

Article Abstract:

The impact of dismantling tariffs and trade barriers on utilitarian monopoly trade unions was examined. To this end, the differentiated products sector's intra-industry trade under Chamberlinian monopolistic competition was modelled. Based on the model, which differentiated between national and international trade unions, it was shown that the elimination of trade barriers leads to consolidation of trade unions, reduced wages, increased employment and more players in the differentiated goods industry.

Research, Labor unions, Nontariff trade barriers, Tariffs, Free trade, Monopolistic competition

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Fiscal stabilisation and monetary integration in Europe: a short-run analysis

Article Abstract:

The effects of supply shocks on a theoretical two-country world model possessing the characteristics of the Mundell-Fleming variety were evaluated. Afterwhich, the optimal budgetary policies for scenarios of non-cooperation, economic policy coordination, floating exchange rates and fixed exchange rates were determined to observe the potential effects of the European Monetary Union. The results showed that the level of welfare losses is dependent on unemployment, real wages and budgetary imbalance.

Analysis, Intergovernmental fiscal relations

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