Have Europe’s labour markets become more flexible? An exercise in measuring the relative flexibility of wages across countries and time

  • Andrew Hughes Hallett
  • Christian Richter
  • Xiaoshan Chen
Part of the Contributions to Economics book series (CE)


Wage and price flexibility, and the structural and institutional reforms required to induce this kind of flexibility, have now become the leading economic issue in Europe. This is not a new development. It has long been argued that structural reforms were a necessary condition for a successful monetary union (Delors, 1989). Nor has this gone unrecognised within Europe itself. The Lisbon Agenda, agreed in 2000, was introduced precisely to create greater market flexibility.


Business Cycle Structural Break Euro Area Wage Growth Short Time Fourier Transform 


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Copyright information

© Physica-Verlag Heidelberg 2008

Authors and Affiliations

  • Andrew Hughes Hallett
    • 1
  • Christian Richter
    • 2
  • Xiaoshan Chen
    • 2
  1. 1.School of Public PolicyGeorge Mason UniversityFairfaxUSA
  2. 2.Department of EconomicsLoughborough UniversityLoughboroughUK

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