Coordination of Wage Bargaining, Exchange Rate Stability and External Adjustment

6533b820fe1ef96bd12798c6

RESEARCH PRODUCT

Coordination of Wage Bargaining, Exchange Rate Stability and External Adjustment

subject

Microeconomics Exchange rate Economics Current account Point estimation Monetary economics Stability (probability)health care economics and organizations Degree (temperature)Wage bargaining

description

The literature on the determinants of the rate of current account reversion has been limited to examining the role of exchange rate regimes. We propose that the degree of coordination of wage bargaining affects the speed of current account adjustment. Our point estimates are economically and statistically significant, suggesting that fragmented firm-level wage bargaining facilitates external adjustment. We also find a strong negative interaction between the effects of coordination of wage bargaining and exchange rate stability on the rate of current account reversion.

year	journal	country	edition	language
2016-01-01	SSRN Electronic Journal

https://doi.org/10.2139/ssrn.2838181

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