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We analyze how the pass-through from exchange rate to domestic wages depends on the degree of integration between … domestic wages to real exchange rate is 0.1 after a year for countries with high barriers to external labor mobility, but about …
Persistent link: https://www.econbiz.de/10005826292
Which structural reforms affect the speed the regional convergence within a country? We found that domestic financial development, trade/current account openness, better institutional infrastructure, and selected labor market reforms facilitate regional convergence. However, these reforms have...
Persistent link: https://www.econbiz.de/10011142004
return. In the short run, an adverse shock to a region results in a sharp drop in employment and a gradual decline of … physical capital; the system returns to its initial capital/labor ratio after four years. The sharp drop in employment is … consistent with the view that wages are rigid. The analysis of adjustment in the short run relies on a vector autoregression …
Persistent link: https://www.econbiz.de/10005263773