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Assessing Competitiveness Using Industry Unit Labor Costs : An Application to Slovakia
International Monetary Fund - 2012
Conceptual ambiguities and statistical weaknesses hamper the assessment of external competitiveness. The term competitiveness, while applied extensively, is often imprecisely defined, which can result in analytical errors and mistaken policy advice. Furthermore, aggregate statistical measures of...
Persistent link: https://www.econbiz.de/10014396613
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Alternative Models of Wage Dispersion
International Monetary Fund - 2005
, we cannot get more than two wages. We explore several other models, including one combining ex ante and ex post …
Persistent link: https://www.econbiz.de/10014400958
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A Noteon Terms of Trade Shocks and the Wage Gap
International Monetary Fund - 2010
Using Chilean data, we document that for resource-rich small open economies the effects of terms of trade shocks on the wage gap (between skilled and unskilled workers) depend on factor intensities in the non-tradable sector, following the model in Galiani, Heymann, and Magud (2010). For a...
Persistent link: https://www.econbiz.de/10014403224
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Exchange Rate Fluctuations, Pass-Through, and Market Share
International Monetary Fund - 1989
When the exchange rate fluctuates and the market exhibits hysteresis, planning horizons of domestic and foreign competitors will matter in determining pass-through as well as relative market shares of these firms. Using the Cournot duopoly model, it is shown that if the foreign exporter is a...
Persistent link: https://www.econbiz.de/10014396230
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Trade Policy and Macroeconomic Balance in the World Economy
International Monetary Fund - 1988
The paper explores the relationship between trade policy and current accounts. The effect on the current account of a change in protection at home and then abroad is analyzed, assuming that the exchange rate floats. The “savings-and-investment approach” is used. It shows that there is no...
Persistent link: https://www.econbiz.de/10014396105
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Elasticity Optimism
International Monetary Fund - 2009
In most macroeconomic models, the substitutability between domestic and foreign goods is calibrated using aggregated data. This imposes homogeneous elasticities across goods, and the calibration is only valid under this assumption. If elasticities are heterogeneous, the aggregate...
Persistent link: https://www.econbiz.de/10014402215
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Exchange Rate Volatility and World Trade
International Monetary Fund - 1984
In View of the continuation of substantial movements in exchange rate relationships among major currencies, the recent increase in protectionist pressures, and the disappointing performance of world trade, renewed concern has been expressed about the possible adverse effects of exchange rate...
Persistent link: https://www.econbiz.de/10014406218
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Equilibrium Wage Dispersion : An Example
International Monetary Fund - 2006
-specific variable, it is known that there are K reservation wages that could be posted, but generically never more than two actually are … posted in equilibrium. What is unknown is when we get two wages, and which wages are actually posted. For an example with K … combination of posted reservation wages, depending on parameters. We also show how wages, profits, and unemployment depend on …
Persistent link: https://www.econbiz.de/10014402407
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Does Globalization Lower Wages and Export Jobs?
International Monetary Fund - 1997
developing countries been responsible for thelowered wages of the unskilled, increased unemployment, and widenedincome inequality …
Persistent link: https://www.econbiz.de/10015058164
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A Cointegration Model for Search Equilibrium Wage Formation
International Monetary Fund - 2004
In flow models of the labor market, wages are determined by negotiations between workers and employers on the surplus …
Persistent link: https://www.econbiz.de/10014401436