Stockhammer, Engelbert; Hein, Eckhard; Grafl, Lucas - In: International Review of Applied Economics 25 (2011) 1, pp. 1-23
Germany has experienced a period of extreme nominal and real wage moderation since the mid-1990s. Contrary to the expectations of liberal economists, this has failed to improve Germany's mediocre economic performance. However, Germany is now running substantial current account surpluses. One...