research product . Other ORP type . 2020

Germany’s silent rebalancing has been undone by COVID-19

Di Carlo, D.; Höpner, M.;
Open Access English
  • Published: 26 Nov 2020
  • Publisher: London School of Economics and Political Science
  • Country: United Kingdom
Abstract
Low German wages are often cited as a key contributing factor to imbalances in the Eurozone. Donato Di Carlo and Martin Höpner demonstrate that while nominal unit labour cost growth in Germany consistently undershot that of other Eurozone countries in the first decade of the euro, the country has undergone a ‘silent rebalancing’ following the financial crisis. Unfortunately, this incomplete process is likely to be reversed by the shock from Covid-19.
Subjects
free text keywords: JZ International relations, JN Political institutions (Europe)
Related Organizations
Communities
COVID-19
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Other ORP type . 2020
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