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 … progress was weak; it was through capital intensification that periphery economies gained efficiency and competitiveness …

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 … competitiveness. Cluster heterogeneity, and lack of robustness in cluster composition, is a reflection of the difficulties in …

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 … competitiveness. Cluster heterogeneity, and lack of robustness in cluster composition, is a reflection of the difficulties in …

inflation convergence using different approaches, namely panel unit root tests, cointegration tests and error-correction models …. All in all we cannot reject convergence of ULC growth in EMU, however, country-specific deviations from the rest of the …

Unit labor cost (ULC) is defined as labor compensation per value added. It captures the cost competitiveness of … enhancing cost competitiveness. Furthermore, we compare measures of the wage effect under two decompositions, using data from 18 …

trajectories reflected in divergent export competitiveness and lack of equilibrating mechanisms. Specifically, the model is tested … trigger through their impact on price competitiveness, they also serve as a central factor that retards the feedback mechanism … competitiveness-oriented export-led growth strategies. …

We empirically assess the impact of competitiveness measured by unit labor costs for current account balances in the … importance of competitiveness: Higher unit labor costs growth leads to lower current account balances. By splitting up unit labor …

area, and narrower differences in labour productivity growth (Alvarez et al., 2006). We investigate convergence of … are much less important in explaining the variance of ULC growth. We report evidence for convergence clusters in all …