Wages, Competitiveness and the Balance of Payments
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| Author(s): | Beier, Niels C.; Pedersen, Erik Haller |
| Subject: | Danish economy |
| Type: | Monetary Review, 1. Quarter 2005, page 43-60 |
| Year of publication: | 2005 |
| Date of publication: | 04/04/2005 |
Danish hourly wage costs are among the highest in the world, and the gap to Denmark's competitors has widened in the last decade. Nevertheless, the current-account and trade surpluses are considerable. This is among other things attributable to productivity growth that has been higher than among Denmark's competitors, increased exports of marine freight and of oil and gas from the North Sea, as well as improved terms of trade.
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