Dollarization, Economic Growth and Employment
Pontifical Catholic University of Chile - Institute of Economics
December, 21 2009
Economics Letters, Vol. 105, No. 1, 2009
Dollarization brought price stability and higher economic growth to Ecuador. Nevertheless, unemployment remained stubbornly high. Two opposing forces explain this result: Sustained growth led to higher labor demand but price stabilization triggered substitution effects by cheaper intermediate goods and capital.
Keywords: dollarization, employment, economic growth
JEL Classification: E24, E27, E65, C5working papers series
Date posted: December 26, 2009
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