Competitiveness differentials are blamed for the instability of the Eurozone. Most of the analyses focus on labour … costs or labour-market institutions. This paper explores an additional source of differentials in competitiveness: land and … beginning of the century. Germany is an exception. A large increase in the prices of buildings, structures and lands for private …

price bubbles are concentrated in the largest cities and in the purchasing market. Prices seem to be driven by the demand …

estimates of the productivity premium of German firms exporting to the Euro-zone and beyond, controlling for unobserved time … invariant firm specific effects, and tests for self-selection of more productive firms into exporting beyond the Euro-zone. (3 … Euro-zone only is no longer much smaller that the premium of firms that export beyond the Euro-zone, too, and the premium …

that Germany would have been better off, had it immediately opened its labor market. Finally, the Great recession allows us … of migration flows from the New Member States to Germany. We demonstrate that immigration increased substantially despite … the restrictions on the German labor market, and that net flows decreased to zero at the outset of the recession. The …

European Union. Regression results are provided for Western Germany, France, and Italy. It is shown that labour mobility is … highest in Germany, followed by France, and Italy. However, even in Germany, the accommodation of a shock to unemployment by …

prices in the four largest economies in the euro area: France, Germany, Italy, and Spain. We first calibrate a life …