@article{2014:hpner:transnatio,
title = {Transnationale Lohnkoordination in einem System fester Wechselkurse},
year = {2014},
note = {A synchronization of national inflation rates is the crucial
precondition for a well-functioning fixed exchange rate regime. Given
the close relationship between nominal unit labour cost and prices,
inflation synchronization requires either transnational wage
coordination or equal wage targets in all participating member states.
These requirements, however, overtax wage formation in the
heterogeneous Eurozone. Against this background the Euro was a bad
idea right from the beginning. The article also warns against
equipping the European Commission with competences in the fields of
wage formation and the right to strike.},
journal = {WSI-Mitteilungen},
pages = {317--319},
author = {Höpner, Martin},
volume = {67},
number = {4}
}