Fabiani, Silvia; Lamo, Ana; Messina, Julián; Rõõm, Tairi - In: IZA journal of labor policy 4 (2015), pp. 1-28
demand and credit contraction triggered by the global Great Recession of 2009. The analysis reveals that cost reduction …-particularly labour cost reduction through the adjustment of quantities rather than prices-was the prevailing strategy that firms had …