LEVASSEUR, Sandrine - In: Eastern Journal of European Studies 3(1) (2012) June, pp. 123-143
This article provides an assessment of labour market adjustments occurring in Estonia during the 2008/2011 crisis. The strategy of internal devaluation succeeded in shrinking the real (hourly) unit labour costs by 25 % per year in 2010 and 2011, thus helping Estonian enterprises gain...