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wages to increase beyond productivity increases. The augmented Balassa-Samuelson model is extended to trace cyclical … deviations of real exchange rates from the productivity-driven equilibrium path. Panel estimations for the period from 1995 to … evidence in favour of capital inflow-driven real wage increases in excess of productivity increases. …
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This paper proposes a new perspective on international capital flows and countries' long-run external asset position. Cross-sectional evidence for 84 developing countries shows that over the last three decades countries that have had on average higher volatility of output growth (1) accumulated...
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wages to increase beyond productivity increases. The augmented Balassa-Samuelson model is extended to trace cyclical … deviations of real exchange rates from the productivity-driven equilibrium path. Panel estimations for the period from 1995 to … evidence in favour of capital inflow-driven real wage increases in excess of productivity increases. …
Persistent link: https://www.econbiz.de/10011443937