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Entwicklung. Eine wichtige Ursache dieses Phänomens sind die massiven Veränderungen am deutschen Arbeitsmarkt, die ihren Anfang in … der Mitte des vergangenen Jahrzehnts nahmen. Über fünf Millionen Erwerbstätige wurden seitdem in den Arbeitsmarkt neu …
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Despite massive digitization efforts, the German economy has experienced a marked slowdown in its productivity growth. This paper analyzes the reasons behind this disconcerting development. A major factor is the turnaround of the labor market that commenced around 2005. The successful...
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. Two different supply shocks are considered: an oil price shock, and the integration of relatively labour …-abundant countries into the world economy. With flexible wages, a negative supply shock leads to a decrease in the wage rate while …
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