Bayoumi, R., R. Harmsen and J. Turunen (2011), “Euro Area Export Performance and Competitiveness”, IMF Working Paper No. 11/140.
Prepared by Mai Chi Dao (EUR)
Data is as of 2007, taken from Labour Market Developments in Europe, 2011.
Although in Ireland, real wages rose by more than 4 percent, almost all of that increase was driven by the deflation that Ireland suffered during the downturn, while nominal wages hardly budged,
See the appendix for variable definition, sources and sample coverage.
According to the Lisbon Review 2010, Cyprus ranks 13th out of 27 EU countries in terms of overall competitiveness, but only 21th in terms of the sub-category Innovation and R&D.