European monetary integration and aggregate relative deprivation: The dull side of the shiny euro

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Show simple item record Stark, Oded Wlodarczyk, Julia 2015-06-10T10:52:18Z 2015-06-10T10:52:18Z 2015-06-10
dc.identifier.other 433675829 de_DE
dc.identifier.uri de_DE
dc.description.abstract Drawing on the premise that the integration of economies revises people’s social space and their comparators, we quantify social stress by aggregate relative deprivation, ARD; we calculate the effect of monetary mergers on ARD; and we document the validity of the superadditivity property of ARD for successive adoptions of a common currency by European countries. One feature of monetary unification, which replaces diverse currencies with a common currency, is that it brings about a change in the comparison environment, expanding the reference space of individuals in a given country to encompass individuals from the joining countries. Overall, calculations regarding six enlargements of the Economic and Monetary Union between 1999 and 2011 reveal an increase of ARD on six occasions when we hold incomes constant, and on five when we take into consideration changes in incomes. In addition, we observe an uneven distribution of the costs and benefits from monetary integration among the participating countries when these costs and benefits are measured in terms of ARD. en
dc.language.iso en de_DE
dc.publisher Universität Tübingen de_DE
dc.rights ubt-podno de_DE
dc.rights.uri de_DE
dc.rights.uri en
dc.subject.classification Europäische Integration de_DE
dc.subject.ddc 330 de_DE
dc.subject.other Monetary integration en
dc.subject.other Aggregate relative deprivation en
dc.subject.other Superadditivity en
dc.subject.other Social stress en
dc.subject.other Währungsintegration de_DE
dc.title European monetary integration and aggregate relative deprivation: The dull side of the shiny euro en
dc.type Aufsatz de_DE
utue.publikation.fachbereich Wirtschaftswissenschaften de_DE
utue.publikation.fakultaet 6 Wirtschafts- und Sozialwissenschaftliche Fakultät de_DE
utue.publikation.source University of Tübingen Working Papers in Economics and Finance ; 82 de_DE


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