LEADER 05958oam 22011894 450 001 9910957188803321 005 20250426110440.0 010 $a9786612842665 010 $a9781462338627 010 $a1462338623 010 $a9781451990300 010 $a1451990308 010 $a9781451871920 010 $a1451871929 010 $a9781282842663 010 $a1282842668 035 $a(CKB)3170000000055217 035 $a(SSID)ssj0000940775 035 $a(PQKBManifestationID)11502821 035 $a(PQKBTitleCode)TC0000940775 035 $a(PQKBWorkID)10955568 035 $a(PQKB)11612179 035 $a(OCoLC)469154536 035 $a(IMF)WPIEE2009044 035 $a(MiAaPQ)EBC1605889 035 $a(IMF)WPIEA2009044 035 $aWPIEA2009044 035 $a(EXLCZ)993170000000055217 100 $a20020129d2009 uf 0 101 0 $aeng 135 $aurcn||||||||| 181 $ctxt 182 $cc 183 $acr 200 10$aExchange Rates and Wages in an Integrated World /$fAntonio Spilimbergo, Prachi Mishra 205 $a1st ed. 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2009. 215 $a42 p 225 1 $aIMF Working Papers 300 $aBibliographic Level Mode of Issuance: Monograph 311 08$a9781451916270 311 08$a1451916272 320 $aIncludes bibliographical references. 327 $aIntro -- Contents -- I. Introduction -- II. Exchange Rates and Labor Mobility: Theoretical Framework -- III. Empirical Specification -- IV. Data -- V. Results for Sending Countries -- VI. Results for Receiving Country-The Case of the U.S. -- VII. Exchange Rate and Migration -- VIII. Conclusions -- Tables -- 1. Effect of Exchange Rates on Wages -- 2. Effect of Exchange Rates on Wages-Interaction with Labor Market Integration -- 3. Effect of Exchange Rates on Wages-Interaction with Labor Market Integration: Alternative Measures of Exchange Rates -- 4. Effect of Exchange Rates on Wages-Interaction with Other Measures of Integration -- 5. Effect of Exchange Rates on Wages-Interactions-Developing Countries -- 6. Effect of Exchange Rates on Wages-Migrants Defined by Foreign-Born -- 7. Effect of Exchange Rates on Wages-Interaction with Labor Market Integration - Control for Composition of Trade -- 8. Effect of Exchange Rates on Wages-Alternative Sources of Data on Wages -- 9. Effect of Exchange Rates on Wages-Low and High Skill Wages -- 10. Effect of Exchange Rates on U.S. Immigrant Wages-Interactions -- 11. Effect of Exchange Rates on Migration -- Figure -- 1. Depreciation of Exchange Rate and Wages -- References -- Appendix -- Appendix tables -- 1. Countries in Sample and Top Destination Countries, 1981-2005 -- 2. Years in Sample, 1981-2005 -- 3. Summary Statistics -- 4. Panel Unit Root Test -- 5. Effect of Exchange Rates on Wages: Migrants Defined by Foreign-Born: Sample-Selection -- 6. List of Occupations: Freeman-Oostendorp Occupational Wages Around the World Database -- 7. Effect of Exchange Rates on U.S. Immigrant Wages-Interactions: Sample Selection. 330 3 $aWe analyze how the pass-through from exchange rate to domestic wages depends on the degree of integration between domestic and foreign labor markets. Using data from 66 countries over the period 1981?2005, we find that the elasticity of domestic wages to real exchange rate is 0.1 after a year for countries with high barriers to external labor mobility, but about 0.4 in countries with low barriers to mobility. The results are robust to the inclusion of various controls, different measures of exchange rates, and concepts of labor market integration. These findings call for including labor mobility in macro models of external adjustment. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2009/044 606 $aForeign exchange rates 606 $aCurrency$2imf 606 $aDemand and Supply of Labor: General$2imf 606 $aEmigration and Immigration$2imf 606 $aEmigration and immigration$2imf 606 $aExchange rates$2imf 606 $aForeign Exchange$2imf 606 $aForeign exchange$2imf 606 $aIncome economics$2imf 606 $aInternational Migration$2imf 606 $aLabor market$2imf 606 $aLabor markets$2imf 606 $aLabor$2imf 606 $aLabour$2imf 606 $aMigration$2imf 606 $aMigration, immigration & emigration$2imf 606 $aPopulation and demographics$2imf 606 $aReal exchange rates$2imf 606 $aTrade and Labor Market Interactions$2imf 606 $aWage Differentials$2imf 606 $aWage Level and Structure$2imf 606 $aWages$2imf 606 $aWages, Compensation, and Labor Costs: General$2imf 607 $aUnited States$2imf 615 0$aForeign exchange rates. 615 7$aCurrency 615 7$aDemand and Supply of Labor: General 615 7$aEmigration and Immigration 615 7$aEmigration and immigration 615 7$aExchange rates 615 7$aForeign Exchange 615 7$aForeign exchange 615 7$aIncome economics 615 7$aInternational Migration 615 7$aLabor market 615 7$aLabor markets 615 7$aLabor 615 7$aLabour 615 7$aMigration 615 7$aMigration, immigration & emigration 615 7$aPopulation and demographics 615 7$aReal exchange rates 615 7$aTrade and Labor Market Interactions 615 7$aWage Differentials 615 7$aWage Level and Structure 615 7$aWages 615 7$aWages, Compensation, and Labor Costs: General 676 $a332.15201 700 $aSpilimbergo$b Antonio$0121228 701 $aMishra$b Prachi$01090676 712 02$aInternational Monetary Fund. 801 0$bDcWaIMF 906 $aBOOK 912 $a9910957188803321 996 $aExchange Rates and Wages in an Integrated World$94371616 997 $aUNINA