wages to increase beyond productivity increases. The augmented Balassa-Samuelson model is extended to trace cyclical …

increases from the tradable to the non-tradable sector and to cause real wages to increase beyond productivity increases. Panel …

wages to increase beyond productivity increases. The augmented Balassa-Samuelson model is extended to trace cyclical …

Adjustment to an external imbalance is more diffi cult within a monetary union if wages are sticky. Periods of high …

. Latvia stands out as having had the quickest adjustment in wages. By contrast, before the crisis, Greek wages appeared to … wages to unemployment in Greece was under the program similar to that observed in Germany and Portugal (a case, which has …

What to do when a country experiences a sudden stop in capital inflows and has to adjust externally? Sticky wages make …

Program. Latvia stands out as having had the quickest adjustment in wages. By contrast, before the crisis, Greek wages … reaction of wages to unemployment in Greece under the program was increasingly similar to that observed in Germany and Portugal …