Belgian paper examines impact of unit labour costs on exports
Study motivated by use of unit labour costs as international competitiveness indicator
A working paper published today by the National Bank of Belgium examines the extent to which unit labour costs are related to international export performance.
In How do exporters react to changes in cost competitiveness? Stefaan Decramer, Catherine Fuss and Jozef Konings use firm-level data from Belgium between 1999 and 2010 to analyse the impact of unit labour costs on exports.
The authors find a 10% increase in unit labour costs implies a drop in exports of between 2% and 4%, though this
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