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issue of productivity catching-up, international specialisation and labour market effects in a dynamic multi …. These Schumpeterian features are the impact of transitory rents, emerging from (labour) productivity-enhancing technological … progress or catching- up processes, upon the price-, wage- and quantity system of the trading economies. Relative productivity …
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Proponents of minimum wage increases have argued that such hikes can serve as an engine of economic growth and assist low-skilled individuals during downturns in the business cycle. However, a review of the literature provides little empirical support for these claims. Minimum wage increases...
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