Abstract
More than half a century ago, a future winner of the Nobel Prize in economics assessed the case for multinational monetary integration, concluding that ‘an essential ingredient of a common currency, or a single currency area, is a high degree of [production] factor mobility’ (Mundell 1961: 661). The mobility of capital and labour across countries was set as the necessary correlate for the abandonment of nation-based money and monetary policies. Accordingly, mainstream economic theory today posits that, in a single-currency area like the Eurozone, regional economic crises should boost the cross-country movements of workers. This in turn should alleviate economic imbalances and help stabilize economies.
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© 2015 Ettore Recchi and Justyna Salamońska
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Recchi, E., Salamońska, J. (2015). Bad Times at Home, Good Times to Move? The (Not So) Changing Landscape of Intra-EU Migration. In: Trenz, HJ., Ruzza, C., Guiraudon, V. (eds) Europe’s Prolonged Crisis. Palgrave Studies in European Political Sociology. Palgrave Macmillan, London. https://doi.org/10.1057/9781137493675_7
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DOI: https://doi.org/10.1057/9781137493675_7
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