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...

In this paper, we assess the extent to which multinational firms – in the first instance, the German ones – may adjust their international outsourcing over the business cycle in the Czech Republic and Slovakia. For that purpose, we have used monthly data of production for the manufacturing...