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With respect to the recently ratified economic stimulus package in Germany, it is fundamentally important to observe whether the expansion of physical infrastructure will further contribute to economic growth. This paper presents a way to address the problem of endogeneity using panel data on 16...
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pressure to rationalise. Greater rationalisation should, however, have led to an increase in labour productivity, but this has … been a marked slowdown in the rate of productivity advance. Why is this, and what is the outlook for the future? …
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