We use a simple macroeconomic model proposed by Bernanke and Blanchard (2023) to investigate the reasons for the recent sharp rise in inflation. Applied to Germany and the euro area, the model suggests that the surge in inflation has mainly been caused by commodity price shocks and supply...

This study analyzes the educational attainment and early labor market outcomes of young migrants from the Former Soviet Union (FSU) who arrived in Germany between 1989 and 1994. The results reveal that migrants have lower educational attainments than natives, and that within the group of...

Low-wage employment has become an important feature of the labor market and a controversial topic for debate in many countries. How to interpret the prominence of lowpaid jobs and whether they are beneficial to workers or society is currently an open question. The answer depends on whether...