Adjustment performance of open economies: some international comparisons
Bank for International Settlements, Monetary and Economic Department, 1983 - Business & Economics - 100 pages
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General performance indicators
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acceleration adjustment process Austria average banking Belgium and Sweden Bond rate borrowing abroad Canada Canada and Sweden cent decline deflator depreciation deterioration devaluation developments dummy effective exchange rate estimates expansionary export exposed sectors external balance external deficit external shocks factors financial balances fiscal policy foreign four countries Graph hard-currency policy hypothesis incomes policy indexation interest rates international competitiveness investment mainly manufacturing measures monetary policy money stock money supply NAIRU nominal and real nominal wage rigidity NWLC OECD oil shock output prices percentage change period Phillips curve price changes price equations private sector productivity growth profit share public-sector deficit rate of inflation rate of unemployment ratio real wages reflected relatively rise social partnership stabilisation supply shocks Table target terms of trade trends unemployment rate unit labour costs variable wage and price wage behaviour wage equation wage flexibility wage increases wage moderation wage/wage links