Eastern European countries, like Hungary and Poland, experienced real wage growth in 2017 and 2018, partially due

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Eastern European countries, like Hungary and Poland, experienced real wage growth in 2017 and 2018, partially due to low unemployment. At the same time, chronic shortage of trained workers caused many companies, and in some cases even public administration, to automatize and simplify processes. Explain how a shortage of trained labor can lead to an increase in real wages as well as productivity?

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Principles Of Macroeconomics

ISBN: 9781292303826

13th Global Edition

Authors: Karl E. Case,Ray C. Fair , Sharon E. Oster

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