Adopting a simple Phillips curve framework, we show that different labour market institutions across EU countries are associated with significant differences in the response of inflation to unemployment and exchange rate shocks. More wage coordination and higher union density flatten the...

The Balassa–Samuelson (B–S) hypothesis suggests that, in catching-up countries, inflation will be comparatively higher, as prices of non-traded goods “catch up” with the growth of productivity in the tradable goods sector; as a result, these countries will experience real appreciation....

Using unique data from a supplement to the RLMS on displaced workers in Russia and from the Ukrainian Longitudinal Monitoring Survey (ULMS) we analyze and provide the first solid evidence on displacement in Russia and Ukraine in a period of growth. Our estimates establish that quits dominate...