Employment Response to Real Exchange Rate Fluctuations : Evidence from Polish Manufacturing, 1993-2001

• Autorzy: Leszek E. Wincenciak
• Języki publikacji: EN

Abstrakty

EN

The goal of the paper is to find the adjustment of manufacturing employment to real exchange rate movements. I divide sub-sectors into two groups: tradable and non-tradable. The first is then decomposed into export-oriented and import-competing. The criterion of division is taken from Gourinchas (1999) and the analysis of adjustment is conducted in line with this division. I suspect that the pattern of response differs substantially among those selected sub-sectors. As an analytical framework, I use a very simple model proposed by Burgess and Knetter (1996), with some variations. The rest of this paper is organized as follows: section I provides short review of recent literature and formulates basic theoretical assumptions; section II presents the model framework; section III describes the data used to estimate the model; and section IV presents empirical results and a commentary. The paper ends with a summary, bibliography, tables and figures. (fragment of text)

Słowa kluczowe

EN

Employment; Exchange rate variability; Manufacturing sector; Statistical data analysis

PL

Zatrudnienie; Zmienność kursu walutowego; Sektor przedsiębiorstw; Analiza danych statystycznych

• Czasopismo: Emergo. Journal of Transforming Economies and Societies
• Rocznik: 2003
• Tom: 10
• Numer: nr 3
• Strony: 56--68

Twórcy

autor

Leszek E. Wincenciak

• University of Warsaw, Poland

Bibliografia

• Aaronson, S., Goldberg, L. and Tracy, J. (1999) "Exchange Rates and Employment Instability: Evidence from Matched CPS Data". American Economic Review: Papers and Proceedings I
• Ashenfelter, O. and Layard, R. (1986) Handbook of Labor Economics. North-Holland
• Blanchard, O. and Wolfers, J. (1999) "The Role of Shocks and Institutions in the Rise of European Unemployment: The Aggregate Evidence". NBER
• Branson, W. H. and Love, J. P. (1986) "Dollar Appreciation and Manufacturing Employment and Output". NBER WP 1972, VII
• Branson, W. H. and Love, J. P. (1987) "The Real Exchange Rate and Employment in US Manufacturing: State and Regional Results". NBER WP 2435, XI
• Branson, W. H. and Love, J. P. (1988) "The Real Exchange Rate, Employment and Output in Manufacturing in the US and Japan". NBER WP 2491,1
• Burgess, S. and Knetter, M. M. (1996) "An International Comparison of Employment Adjustment to Exchange Rate Fluctuations". NBER WP 5861, XII
• Campa, J. M. and Goldberg L. S. (1998) "Employment Versus Wage Adjustment and the US Dollar". NBER
• Carvalho, A. de (2000) "Wage Adjustment, Imperfect Competition and Real Exchange Rate Reversion: An Attempt to Unravel the PPP Puzzle"
• Central Statistical Office (1993-2002) "Statistical Bulletin", various editions
• Clarida, R. and Gali, J. (1994) "Sources of Real Exchange Rate Fluctuations. How Important are Nominal Shocks?". NBER WP 4658, II
• Davis, S. J. and Haltiwanger, J. (1990) "Gross Job Creation and Destruction. Microeconomic Evidence and Macroeconomic Implications". NBER
• Davis, S. J. and Haltiwanger, J. (1999) "Sectoral Job Creation and Destruction Responses to Oil Price Changes". NBER
• Dekle, R. (1998) "The Yen and Japanese Manufacturing Employment". Journal of International Money and Finance 17: 785-801
• Goldberg, L. S. and Tracy, J. (2001) "Exchange Rates and Wages". NBER
• Goldberg, L. S. and Tracy, J. (1999) "Exchange Rates and Local Labor Markets". NBER WP 6985, II
• Gourinchas, P. O. (1998) "Exchange Rates and Jobs. What do we Learn from Job Flows?". NBER
• Gourinchas, P. O. (1999) "Exchange Rates do Matter. French Job Reallocation and Exchange Rate Turbulence, 1984-92". European Economic Review 43: 1279-1316
• Hamermesh, D. (1986) "The Demand for Labor in the Long Run" in Handbook of Labor Economics, chapter 8
• Hamermesh, D. and Pfann, G. (1992) "Turnover and the Dynamics of Labor Demand". NBER WP 4204, X
• Hanson, G. H. and Slaughter, M. J. (1999) "Labor-Market Adjustment in Open Economies: Evidence from US States". NBER, XII
• IMF (2001) "International Financial Statistics"
• Klein, M. W, Schuh, S. and Triest, R. K. (2000) "Job Creation, Job Destruction and the Real Exchange Rate". NBER WP 7466,1
• Knetter, M. (1992) "International Comparisons of Pricing-to-Market Behavior". NBER WP 4098, VI
• Koren, M. (2001) "Employment Response to Real Exchange Rate Movements: Evidence From Hungarian Exporting Firms"
• Mariani, F. and Padoan, P. C. (2001) "Exchange Rate Regimes and Employment in Transition. Theoretical and Empirical Aspects"
• Nickell, S. (1986) "Dynamic Models of Labour Demand" in Handbook of Labor Economics, chapter 9
• OECD (2001) "Indicators of Industry and Services", www.sourceoecd.org
• Pizatti, L. (2002) "Labor Market Implications of Switching the Currency Peg in a General Equilibrium Model for Lithuania". The World Bank Europe and Central Asia Poverty Reduction and Economic Management Sector Unit
• Revenga, A. (1992) "Exporting Jobs? The Impact of Import Competition on Employment and Wages in US Manufacturing". Quarterly Journal of Economics 107(1)
• Slaughter, M. J. (2001) "International Trade and Labor-Demand Elasticities". Journal of International Economics 54: 27-56
• Tomiura, E. (2001) "The Impact of Import Competition on Japanese Manufacturing Employment". Kobe University