L'impact de l'union monétaire sur les marchés du travail

[fre] In this article, we discuss some economic mechanisms behind the effects of European monetary union on labour markets. First we discuss some direct effects encountered by the recent literature. Then we analyse how belonging to a monetary union affects the incentives for labour market reform. We distinguish between the role of monetary policy in stabilizing economic fluctuations and its role in smoothing the transition to a new steady state after a structural reform is implemented.