Decramer, Stefaan; Fuss, Catherine; Konings, Jozef - European Central Bank - 2014
Policy-making institutions such as the European Commission, the ECB and the OECD often use unit labor costs as a … the impact of unit labor costs on exports. We use exports adjusted for their import content. We find a statistically … significant negative effect of unit labor costs on export performance of firms with an estimated elasticity of the intensive …