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Journal of Economic Structures

The Official Journal of the Pan-Pacific Association of Input-Output Studies (PAPAIOS)

Table 10 The long-run effect of wage devaluation on the profit rate; Greece and Italy

From: Wage versus currency devaluation, price pass-through and income distribution: a comparative input–output analysis of the Greek and Italian economies

 

Wage devaluation

w = 20%

w = 30%

Greece

91.6%

(− 0.35)

95.0%

(− 0.32)

Italy

59.8%

(− 0.43)

62.5%

(− 0.40)

  1. The figures in parentheses give the arc elasticities of the profit rate with respect to the wage rate
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