We estimate the effect of exchange rate movements on firm-level wages, using a representative panel of manufacturing …). Through the revenue side, wages tend to rise after a currency depreciation and the effect is more pronounced the higher is the … firm’s exposure to sales from exports. Through the expenditure side, a depreciation induces a cut in the firm’s wages, and …

relative wages on labor supply. They test the hypothesis that, ceteris paribus, making a given wage high (low) relative to …

standards. Yet acceptance of persistent high unemployment, stagnant wages, and other indicators of declining job quality …