Score contribution per author:
α: calibrated so average coauthorship-adjusted count equals average raw count
The Eurozone crisis has revitalized the debate between economists on the role played by wages in open economies. Salaries paid to workers are at the same time a fundamental source of aggregate demand and a determinant of firms’ international cost competitiveness. The paper investigates how alternative wage growth patterns impact on the economic dynamics of an artificial Monetary Union. For this sake, we perform several experiments employing the Agent Based-Stock Flow Consistent (AB-SFC) Multi-Country model first presented in Caiani et al. (2018a).