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Other 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

JZ International relations, JN Political institutions (Europe)

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COVID-19
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Other ORP type . 2020
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