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We examine the trajectories of the real unit labour costs (RULCs) in a selection of Eurozone economies. Strong … asymmetries in the convergence process of the RULCs and its components - real wages, capital intensity, and technology - are … achieving real convergence and, by extension, nominal convergence. We conclude by outlining technology as the key convergence …
Persistent link: https://www.econbiz.de/10010369774
We examine the trajectories of the real unit labour costs (RULCs) in a selection of Eurozone economies. Strong … asymmetries in the convergence process of the RULCs and its components – real wages, capital intensity, and technology – are … achieving real convergence and, by extension, nominal convergence. We conclude by outlining technology as the key convergence …
Persistent link: https://www.econbiz.de/10013051805
A sustainable long-run pattern in the relative competitiveness of euro area countries is a key factor for the survivorship of the monetary union. We analyze the issue focussing on unit labor cost dynamics using cointegration analysis for the whole economy and for the manufacturing sector...
Persistent link: https://www.econbiz.de/10011735051
We examine the trajectories of the real unit labour costs (RULCs) in a selection of Eurozone economies. Strong … asymmetries in the convergence process of the RULCs and its components-real wages, capital intensity, and technology-are uncovered … convergence and, by extension, nominal convergence. We conclude by outlining technology as the key convergence factor, and call …
Persistent link: https://www.econbiz.de/10011427761
We examine the trajectories of the real unit labour costs (RULCs) in a selection of Eurozone economies. Strong … asymmetries in the convergence process of the RULCs and its components - real wages, capital intensity, and technology - are … achieving real convergence and, by extension, nominal convergence. We conclude by outlining technology as the key convergence …
Persistent link: https://www.econbiz.de/10010377355
Persistent link: https://www.econbiz.de/10009755732
Persistent link: https://www.econbiz.de/10010413202
From the introduction of the euro up to the 2008 global financial crisis, macroeconomic imbalances widened among Member States. This divergence took the form of strong differences in the dynamics of unit labour costs. This paper asks why this happened. Is it the result of distortionary public...
Persistent link: https://www.econbiz.de/10012869579
We examine the trajectories of the real unit labour costs (RULCs) in a selection of Eurozone economies. Strong … asymmetries in the convergence process of the RULCs and its components – real wages, capital intensity, and technology – are … achieving real convergence and, by extension, nominal convergence. We conclude by outlining technology as the key convergence …
Persistent link: https://www.econbiz.de/10010884247
We examine the trajectories of the real unit labour costs (RULCs) in a selection of Eurozone economies. Strong … asymmetries in the convergence process of the RULCs and its components —real wages, capital intensity, and technology— are … achieving real convergence and, by extension, nominal convergence. We conclude by outlining technology as the key convergence …
Persistent link: https://www.econbiz.de/10010784033