Belke, Ansgar; Setzer, Ralph - Institute for the Study of Labor (IZA) - 2004
union if there has been little reason for variations in the exchange rate. This paper takes a different approach and … highlights the fact that high exchange rate volatility may as well signal high costs for labor markets. The impact of exchange … employment growth. Hence, the elimination of exchange rate volatility could be considered as a substitute for a removal of …