Keil, Sascha; Paternesi Meloni, Walter - 2024
feedback loops and can significantly shape macroeconomic reality in the short-to-medium run. We apply an adapted export …-led model of cumulative causation to 10 major countries belonging the Euro area, a region characterized by divergent wage growth … trajectories reflected in divergent export competitiveness and lack of equilibrating mechanisms. Specifically, the model is tested …