Adda, Jérôme; Dustmann, Christian; Meghir, Costas; … - 2009
cycle. Under full factor price
equalization with the trading partners the European business cycle would perhaps be more … relevant.
Here we assume that the German business cycle is su–ciently correlated with the European one to
capture the relevant …, business cycle and unobserved heterogeneity.
Variability in this term provides identiflcation information and is discussed …