A. Berthou.; G. Gaulier. - In: Quarterly selection of articles - Bulletin de la Banque … (2013) 30, pp. 71-91
Using the NiGEM model, the authors show that a wage moderation in the “deficit” countries of the euro area –i.e. lowering the annual growth rate of wages by one percentage point over a five year horizon– would improve their current account balances by 0.2 to 0.3 percentage points of GDP....