In Germany, as in many other countries in the western world, the baby boomers are reaching retirement age. As fewer young workers are entering the labour market than older workers are leaving due to low birth rates, the labour force workers is falling, all other things being equal. At the same...

As a consequence of the global financial crisis Germany experienced the deepest slowdown of its economy since World War II. However, given the sharp decrease of GDP the German labour market was quite stable compared to previous recessions when the labour market response was stronger. Therefore,...