increases in employment and output rather than only in wages; and (2) even though the domestic saving rate is high, foreign … production wages are sustained by a large reserve army of rural labor which drives internal migration, and (2) domestic capital …

increases in employment and output rather than only in wages; and (2) even though the domestic saving rate is high, foreign …

increases in employment and output rather than only in wages; and (2) even though the domestic saving rate is high, foreign … wages are sustained by a large reserve army of rural labor which drives internal migration, and (2) domestic capital is …

We develop a model which shows that wages, prices and real income should grow faster in countries with low increase in … the case of Germany, which has displayed a significantly lower increase in its labour force than its trade partners … increase in their prices and in German wages. This mechanism is magnified by the low price elasticity of the demand for German …