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The paper develops a simple three-sector model of a developing country with nominal wage rigidity, in which one sector is thought of as the primary sector and the other two are sectors in which the country can diversify. The paper then analyzes the relationship between the market structure of...
Persistent link: https://www.econbiz.de/10012783203
Persistent link: https://www.econbiz.de/10003305202
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DIVERSIFICATION -- V. RIGID WAGES -- VI. CONCLUSION -- APPENDIX: THE MODEL -- REFERENCES. …
Persistent link: https://www.econbiz.de/10012691138
The paper develops a simple three-sector model of a developing country with nominal wage rigidity, in which one sector is thought of as the primary sector and the other two are sectors in which the country can diversify. The paper then analyzes the relationship between the market structure of...
Persistent link: https://www.econbiz.de/10014401433
The paper examines the implications of lower trade barriers for sectoral diversification and macroeconomic stability in … macroeconomic stability. It shows also that diversification, in the form of equal distribution of resources between nonprimary …
Persistent link: https://www.econbiz.de/10014399995
This paper characterizes jointly optimal default and exchange-rate policy in a small open economy with limited enforcement of debt contracts and downward nominal wage rigidity. Under optimal policy, default occurs during contractions and is accompanied by large devaluations. The latter inflate...
Persistent link: https://www.econbiz.de/10013024385
theory and considered the criteria as incomplete, since this theory insists solely on a few elements concerning the … meeting this theory’s criteria. Other economists recommend studying the history of these monetary unions so as to define the …
Persistent link: https://www.econbiz.de/10011260997
This paper is the final report of a research project whose aim was to analyse the methodology of calculating the costs and benefits for the Czech Republic, Hungary, Poland and Slovenia of the envisaged accession to the European Union. The research focused particularly on the impact of the...
Persistent link: https://www.econbiz.de/10012100001
This paper is the final report of a research project whose aim was to analyse the methodology of calculating the costs and benefits for the Czech Republic, Hungary, Poland and Slovenia of the envisaged accession to the European Union. The research focused particularly on the impact of the...
Persistent link: https://www.econbiz.de/10009649620