Economic Sustainability and Possibilities of Action for the States, in the Case of Monetary Integration: Some Notes for Reflection
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Economic Sustainability and Possibilities of Action for the States, in the Case of Monetary Integration: Some Notes for ReflectionData
2016Resumo
[Abstract]: The economic crisis that began in 2008 highlighted the difficulties
faced by those national economies members of a monetary area. Such is the
case of the countries in the euro area. In this situation, the possibilities of
increasing the international competitiveness of the domestic economy are
severely reduced. This paper presents a theoretical analysis of the fundamentals
of real exchange rate and the factors influencing pricing, focusing on the degree
of competition in the markets and the cost structure. It is undertaken through
the study of maximising corporate profits, formation of labour costs and
determinants of market structure; contextualised in a currency area. The
findings clearly show that there are efficient policies that can be applied in
order to increase domestic competitiveness through internal devaluation;
nevertheless, the results show that a loss of purchasing power of workers will
probably be the result, while corporate profit margins grow.
Palabras chave
Economic crisis
Currency area
Quality of life
Economic sustainability
Social sustainability
Currency area
Quality of life
Economic sustainability
Social sustainability
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ISSN
1478-8764