Ordóñez, Javier; Sala, Hector; Silva, José Ignacio - In: IZA journal of European Labor Studies 4 (2015) 15, pp. 1-9
We examine the trajectories of the real unit labour costs (RULCs) in a selection of Eurozone economies. Strong … asymmetries in the convergence process of the RULCs and its components-real wages, capital intensity, and technology-are uncovered … convergence and, by extension, nominal convergence. We conclude by outlining technology as the key convergence factor, and call …