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In this paper, employment adjustment at the firm level is estimated with a large panel of business survey data from West German manufacturing. The specification is based on a framework of monopolistic competition in the product market. Special emphasis is devoted to the analysis of the impact of...
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This paper investigates the extent to which technology and uncertainty contribute to fluctuations in real exchange … rates. Using a structural VAR and bilateral exchange rates, the author finds that neutral technology shocks are important …
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