https://www.selleckchem.com/pr....oducts/NVP-AUY922.ht
This paper analyzes alternative channels of adjustment to nominal exchange rate flexibility in response to shocks faced by countries and regions that are part of a monetary union. Over our full sample period of analysis (1977-2018), the results suggest a dominant role of interstate migration as an adjustment channel to labor demand shocks for the United States. In contrast, European countries tend to adjust to negative labor demand shocks mainly through changes in labor force participation and unemployment. Labor mobility is lower in
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