Germany, as most other European countries, has been plagued by a persistently high level of long-term unemployment … level of long-term unemployment in Germany relative to the United States? …

$1. The elasticity of white-collar wages with respect to equity returns is one-third smaller than the CEO salary …We present empirical evidence on the relationship between individual wages, conditional on worker characteristics, and … equity returns using a unique survey from the Bureau of Labor Statistics. Equity returns affect the wages only of workers …