restrictive and sometimes pro-cyclical fiscal policies and overly moderate wage policies in Germany since the mid 1990s. This view … Germany urgently needs more expansive fiscal and monetary policies in the short run, and that in the medium run the conditions … for nominal wage growth in Germany according to the sum of long run national productivity growth and the ECB's inflation …

German reunication was a positive market access shock for both East and West Germany. Regions that for 45 years had … experienced a decline in population due to their loss in market access following the division of Germany of WWII were most … value of land in West Germany. We find that regions in the immediate border area experienced a relative rise in land prices …

Why do borders still matter for economic activity? The reunification of Germany in 1990 provides a unique natural … to trade between East Germany and West Germany were eliminated completely within a very short period of time. The …

Eastern Germany's recovery from the unification shockʺ has been characterized by deep structural change with apparent …