{"id":289,"date":"2011-04-03T15:37:12","date_gmt":"2011-04-03T13:37:12","guid":{"rendered":"http:\/\/www.poleconomix.gr\/portal\/?p=289"},"modified":"2011-05-12T22:17:23","modified_gmt":"2011-05-12T20:17:23","slug":"do-some-countries-in-the-eurozone-need-an-internal-devaluation-a-reassessment-of-what-unit-labour-costs-really-mean","status":"publish","type":"post","link":"https:\/\/www.poleconomix.gr\/portal\/do-some-countries-in-the-eurozone-need-an-internal-devaluation-a-reassessment-of-what-unit-labour-costs-really-mean\/","title":{"rendered":"Do some countries in the Eurozone need an internal devaluation? A reassessment of what unit labour costs really mean"},"content":{"rendered":"<p><a href=\"http:\/\/voxeu.org\/index.php?q=node\/5329\">Felipe, Jesus<\/a> &amp;\u00a0<a href=\"http:\/\/voxeu.org\/index.php?q=node\/5330\"> Kumar, Utsav<\/a><em>. <\/em><\/p>\n<p><em>The problem with Greece, Ireland, Italy, Portugal, and Spain is that they are uncompetitive and need to internally devalue \u2013 or so the argument goes. This paper challenges this conclusion by pointing out that the measure used to back it up \u2013 unit labour costs \u2013 is flawed and misguided. Europe\u2019s periphery lack of competitiveness is related to the types of products they export and not to the fact that their labour is expensive.<\/em><\/p>\n<p><strong>\u03a0\u03b7\u03b3\u03ae<\/strong><em>: <\/em>Levy Economics Institute<em><br \/>\n<\/em><\/p>\n<p><a title=\"\u03c0\u03bb\u03ae\u03c1\u03b5\u03c2 \u03ba\u03b5\u03af\u03bc\u03b5\u03bd\u03bf\" href=\"http:\/\/www.levyinstitute.org\/pubs\/wp_651.pdf\" target=\"_blank\">\u03c0\u03bb\u03ae\u03c1\u03b5\u03c2 \u03ba\u03b5\u03af\u03bc\u03b5\u03bd\u03bf<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Felipe, Jesus &amp;\u00a0 Kumar, Utsav. The problem with Greece, Ireland, Italy, Portugal, and Spain is that they are uncompetitive and need to internally devalue \u2013 or so the argument goes. This paper challenges this conclusion by pointing out that the measure used to back it up \u2013 unit labour costs \u2013 is flawed and misguided. [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[32],"tags":[26,28,27],"class_list":["post-289","post","type-post","status-publish","format-standard","hentry","category-32","tag-26","tag-28","tag-27"],"_links":{"self":[{"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/posts\/289","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/comments?post=289"}],"version-history":[{"count":12,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/posts\/289\/revisions"}],"predecessor-version":[{"id":1026,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/posts\/289\/revisions\/1026"}],"wp:attachment":[{"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/media?parent=289"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/categories?post=289"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/tags?post=289"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}