Eaton, Jonathan; Kortum, Samuel; Neiman, Brent - In: Revue économique 64 (2013) 3, pp. 405-420
Between 2007 and 2011 unemployment rose substantially in most European countries. During the same period a number of European countries experienced large declines in their external deficits. We use a general equilibrium, thirty-four country Ricardian model with potential wage inflexibility to...