Competitiveness in Transition Economies
AbstractThis paper estimates equilibrium dollar wages for 15 transition economies. Equilibrium dollar wages are interpreted as full employment wages consistent with a country’s physical and human capital endowment, and estimated by regressing actual dollar wages on productivity and human capital proxies in a short (1990-95) panel of 85 countries. The main results are: (i) equilibrium dollar wages have appreciated steadily in the Baltic countries and fast-reforming Central and Eastern European (CEE) transition economies, but have been flat in most CIS countries; and (ii) 1996 actual dollar wages remain below estimated equilibrium dollar wages for most but not all transition countries covered.
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Bibliographic InfoPaper provided by International Monetary Fund in its series IMF Working Papers with number 97/149.
Date of creation: 01 Nov 1997
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Other versions of this item:
- KornÃ©lia KrajnyÃ¡k & Jeromin Zettelmeyer, 1998. "Competitiveness in Transition Economies: What Scope for Real Appreciation?," IMF Staff Papers, Palgrave Macmillan, vol. 45(2), pages 309-362, June.
- F14 - International Economics - - Trade - - - Empirical Studies of Trade
- F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
- F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics
- P20 - Economic Systems - - Socialist Systems and Transition Economies - - - General
- P50 - Economic Systems - - Comparative Economic Systems - - - General
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Nouriel Roubini & Paul Wachtel, 1998.
"Current Account Sustainability in Transition Economies,"
NBER Working Papers
6468, National Bureau of Economic Research, Inc.
- Nouriel Roubini & Paul Wachtel, 1997. "Current Account Sustainability in Transition Economies," Working Papers 97-03, New York University, Leonard N. Stern School of Business, Department of Economics.
- Clague, Christopher, 1986. "Determinants of the National Price Level: Some Empirical Results," The Review of Economics and Statistics, MIT Press, vol. 68(2), pages 320-23, May.
- Officer, Lawrence H., 1989. "The national price level: Theory and estimation," Journal of Macroeconomics, Elsevier, vol. 11(3), pages 351-373.
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