Alison Johnston

TL;DR: In this paper, the compatibility of diverse models of capitalism is contingent upon monetary regime, and the authors examine how different currency regimes influence the mutual coexistence of export-led growth models (euro core) and domestic demand-driven growth model (euro periphery).

TL;DR: In this article, the authors develop a framework based on political variables, in particular, whether governments have included or excluded unions in framing policy reforms; the party position of the government; and the type of government.

TL;DR: This paper showed that weak-governance institutions are significantly associated with more prominent export decline inside as opposed to outside a monetary union, which helps explain why the EMU core has emerged relatively unscathed from market speculation during the crisis despite poor fiscal performance of some of the core countries during EMU's early years.

TL;DR: In this article, the authors develop a framework based on political variables, such as whether governments have included or excluded unions in framing policy reforms, the party position of the government, and the type of government.

TL;DR: In this paper, the authors examine different levels of wage moderation in EMU member states since the introduction of the euro and adopt a dual-sector approach, where exposed sector unions are still tied to a competitiveness constraint on wages, while sheltered sector unions neither face a hard monetary constraint imposed by the central bank nor are subject to a competitive one.