This paper analyses elite incomes around the world, and how international comparisons of elite incomes vary depending on the exchange rate and income concept used. It is well known that between-country income inequality is higher using market exchange rates than purchasing power parity (PPP)...

This study reproduces the work of Dani Rodrik on real exchange rate undervaluation and economic growth for 93 countries over the period 1990-2018. While the empirical literature on the dynamics between the real exchange rate11 It is a measure of the bilateral real exchange rate with respect to...

This study reproduces the work of Dani Rodrik on real exchange rate undervaluation and economic growth for 93 countries over the period 1990-2018. While the empirical literature on the dynamics between the real exchange rate11 It is a measure of the bilateral real exchange rate with respect to...

The paper scrutinizes the role of wages and capital flows for competitiveness in the new EU member states in the context of real convergence. For this purpose it extends the seminal Balassa-Samuelson model by international capital markets. The augmented Balassa-Samuelson model is linked to the...

We examine the implications of monetary union for macroeconomic stabilisation in catching up participating countries. We allow member states' supply conditions to differ inside the union, especially with regard to sectoral characteristics. Sectoral productivity shocks on balance hamper the...