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Erscheinungsjahr: 
2019
Quellenangabe: 
[Journal:] Journal of Economic Structures [ISSN:] 2193-2409 [Volume:] 8 [Issue:] 9 [Publisher:] Springer [Place:] Heidelberg [Year:] 2019 [Pages:] 1-23
Verlag: 
Springer, Heidelberg
Zusammenfassung: 
Using input-output data from Symmetric Input-Output Tables for the year 2010 and relevant price models, this paper provides empirical estimations of medium- and long-run effects of wage and currency devaluations on international price competitiveness and income distribution for two 'PIIGS economies', i.e. Greece and Italy. The findings reveal certain differentiated socio-technical production conditions in the economies under consideration casting doubt on the effectiveness of demand-switching policy measures implemented in the post-2010 Eurozone economy. At the same time, however, wage devaluation is found to be a comparatively slow and inefficient process to improve international price competitiveness in the medium-run.
Schlagwörter: 
Income distribution
Input-output price models
International price competitiveness
PIIGS economies
Price pass-through
Wage and currency devaluations
JEL: 
C67
D57
E11
E64
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