In this article we analyse the combination of a minimum wage and a devaluation/depreciation so as to release the external constraint on growth. The policy maker aims at achieving both balanced trade and higher growth. These may be reached by devaluating the domestic currency, which however...

This paper proposes a new explanation for the rise in top performers’ income based on an asymmetry in globalization, with one country producing globalized non-rivalrous performances, other countries producing purely domestic ones. In the country with globalized performances, the globalization...