Angelini, Elena; Dieppe, Alistair; Pierluigi, Beatrice - European Central Bank - 2013
pressures, increase in competitiveness, and higher output. A rational expectation and a learning version of the ECB’s New Multi … model appears appropriate to describe the abrupt wage adjustment which took place in the Baltic States. By contrast, a … States. In this paper we use the linked version of the model to evaluate the aggregate impact of the imposed shocks as well …