Arestis, P and Phelps, P orcid.org/0000-0003-2564-3144 (2018) Inequality Implications of EMU Membership: A Reassessment. Environment and Planning A, 50 (7). pp. 1443-1472. ISSN 0308-518X
Abstract
A growing number of studies have concluded that the European Economic and Monetary Union (EMU) has exacerbated inequalities in income, wealth and society. Furthermore, the endogeneity of income inequality is now becoming recognised as an important part of the cost-benefit analysis of euro currency adoption. Yet the nature, significance and scale of different monetary (and market) integration channels in operation in EMU remain uncertain. In this contribution we employ static and dynamic panel data methodologies to investigate the intra-national household inequality implications, both realised and expected over coming years. Our analysis reveals that the within-country inequality outcomes differ significantly for core and non-core country-groups in EMU, which have so far realised very different distributional costs and benefits from the integration process. These are crucial issues for policy-makers, not just for EMU member states, but for other countries as well, especially the European Union (EU) countries that are expected to adopt the euro currency in the future. This is so in terms of their attempts to look for, design and implement policies, which alleviate within-country inequality.
Metadata
Item Type: | Article |
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Authors/Creators: |
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Copyright, Publisher and Additional Information: | (c) The Author(s) 2018. This is an author produced version of a paper published in Environment and Planning A. Reprinted by permission of SAGE Publications. |
Keywords: | European; monetary integration; income inequality; panel data |
Dates: |
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Institution: | The University of Leeds |
Academic Units: | The University of Leeds > Faculty of Business (Leeds) > Economics Division (LUBS) (Leeds) |
Depositing User: | Symplectic Publications |
Date Deposited: | 17 May 2018 10:55 |
Last Modified: | 14 Dec 2018 11:56 |
Status: | Published |
Publisher: | SAGE Publications |
Identification Number: | 10.1177/0308518X18781082 |
Open Archives Initiative ID (OAI ID): | oai:eprints.whiterose.ac.uk:130967 |