The Exchange Rate and U.S. Wage Process: An Intensive Empirical Investigation

Daniel Himarios

Journal of Money, Credit and Banking, 1993, vol. 25, issue 1, 96-108

Abstract: The U.S. wage growth slowdown since 1982 has generated a large controversy over its causes. A hypothesis that has received extensive attention is based on international-competitivene ss effects. The evidence is mixed.and several authors have proposed alternative hypotheses based on economic or noneconomic developments. This paper addresses this issue and finds significant effects of international competition on wages in manufacturing, services, and total hourly private earnings. An array of tests indicates that thes e results are robust but that the depreciation of the dollar after 198 5 has not had the large effects of the 1981-85 appreciation. Copyright 1993 by Ohio State University Press.

Date: 1993
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Persistent link: https://EconPapers.repec.org/RePEc:mcb:jmoncb:v:25:y:1993:i:1:p:96-108

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