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This paper presents a novel measure of labor market conditions based on micro data from a large business survey in Sweden. The indicator, relative labor shortages (RLS), is the ratio of respondents' quantitative assessment of labor shortages and current employment. Contrary to other surveybased...
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We develop a model which shows that wages, prices and real income should grow faster in countries with low increase in … increase in their prices and in German wages. This mechanism is magnified by the low price elasticity of the demand for German …
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