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dc.contributor.authorNieminen, Mika
dc.contributor.authorHeimonen, Kari
dc.contributor.authorTohmo, Timo
dc.date.accessioned2019-04-18T09:07:25Z
dc.date.available2019-09-04T21:35:30Z
dc.date.issued2019
dc.identifier.citationNieminen, M., Heimonen, K., & Tohmo, T. (2019). Current Accounts and Coordination of Wage Bargaining. <i>Open Economies Review</i>, <i>30</i>(2), 319-341. <a href="https://doi.org/10.1007/s11079-018-9511-2" target="_blank">https://doi.org/10.1007/s11079-018-9511-2</a>
dc.identifier.otherCONVID_28242317
dc.identifier.otherTUTKAID_78700
dc.identifier.urihttps://jyx.jyu.fi/handle/123456789/63559
dc.description.abstractThis study provides novel evidence on the impact of labor market institutions on current account dynamics. Our results suggest that a high degree of coordination of wage bargaining has a positive effect on the current account balance over the long run. This result is not driven entirely by wage moderation induced by centralized wage setting. We also provide robust evidence that a high degree of coordination of wage bargaining is associated with a slower current account adjustment toward its long-run equilibrium. This result seems theoretically plausible; the aggregate shocks in the exporting sector are largely driven by idiosyncratic shocks and the presence of idiosyncratic shocks increases the importance of labor market flexibility. Overall, our analysis of the impact of labor market institutions on current account dynamics complements the existing empirical current account literature focused on macroeconomic and financial measures.fi
dc.format.mimetypeapplication/pdf
dc.language.isoeng
dc.publisherSpringer New York LLC
dc.relation.ispartofseriesOpen Economies Review
dc.rightsIn Copyright
dc.subject.othercurrent account balance
dc.subject.othercurrent account dynamics
dc.subject.othercoordination of wage bargaining
dc.subject.otherexchange rate adjustment
dc.titleCurrent Accounts and Coordination of Wage Bargaining
dc.typearticle
dc.identifier.urnURN:NBN:fi:jyu-201904092115
dc.contributor.laitosKauppakorkeakoulufi
dc.contributor.laitosSchool of Business and Economicsen
dc.contributor.oppiaineTaloustiedefi
dc.contributor.oppiaineBasic or discovery scholarshipfi
dc.contributor.oppiaineEconomicsen
dc.contributor.oppiaineBasic or discovery scholarshipen
dc.type.urihttp://purl.org/eprint/type/JournalArticle
dc.date.updated2019-04-09T12:15:05Z
dc.description.reviewstatuspeerReviewed
dc.format.pagerange319-341
dc.relation.issn0923-7992
dc.relation.numberinseries2
dc.relation.volume30
dc.type.versionacceptedVersion
dc.rights.copyright© Springer Science+Business Media, LLC, part of Springer Nature 2018
dc.rights.accesslevelopenAccessfi
dc.subject.ysovaihtotase
dc.subject.ysotyömarkkinat
dc.subject.ysotyömarkkinajärjestöt
dc.subject.ysotyömarkkinasopimukset
dc.subject.ysopalkat
dc.format.contentfulltext
jyx.subject.urihttp://www.yso.fi/onto/yso/p19855
jyx.subject.urihttp://www.yso.fi/onto/yso/p8831
jyx.subject.urihttp://www.yso.fi/onto/yso/p6324
jyx.subject.urihttp://www.yso.fi/onto/yso/p2248
jyx.subject.urihttp://www.yso.fi/onto/yso/p2008
dc.rights.urlhttp://rightsstatements.org/page/InC/1.0/?language=en
dc.relation.doi10.1007/s11079-018-9511-2


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