Macroeconomic imbalances in Europe: How to overcome the fallacy of unit labour costs
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DOI: 10.1016/j.jpolmod.2020.04.004
Abstract: Abstract Policy recommendations based on unit labour costs (ULC) indices can lead to undesirable and counterproductive policies, because they do not reveal possible distortions in the base year. In this paper, we discuss the problems… read more here.
Keywords: unit labour; labour costs; imbalances europe; macroeconomic imbalances ... See more keywords