The Internationalization of the US Wage Process.
This paper explains the wage-growth slowdown that occurred in the U.S. in the 1980s. Using the vector autoregression method, it is shown that (1) a substantial portion of variations in the growth rate of average hourly earnings and other sectoral wages in the U.S. can be attributed to exchange-rate changes; (2) during the 1983-85 period the strong appreciation significantly reduced the growth rate of wages, but the subsequent depreciation had only modest effects; and (3) sectors like construction and services, traditionally assumed to be immune to foreign competition, have become sensitive to exchange-rate developments. Copyright 1995 by Blackwell Publishing Ltd.
Year of publication: |
1995
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Authors: | Cha, Baekin ; Himarios, Daniel |
Published in: |
Review of International Economics. - Wiley Blackwell, ISSN 0965-7576. - Vol. 3.1995, 2, p. 209-23
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Publisher: |
Wiley Blackwell |
Saved in:
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