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Despite massive digitization efforts, the German economy has experienced a marked slowdown in its productivity growth. This paper analyzes the reasons behind this disconcerting development. A major factor is the turnaround of the labor market that commenced around 2005. The successful...
Persistent link: https://www.econbiz.de/10011897954
Despite massive digitization efforts, the German economy has experienced a marked slowdown in its productivity growth. This paper analyzes the reasons behind this disconcerting development. A major factor is the turnaround of the labor market that commenced around 2005. The successful...
Persistent link: https://www.econbiz.de/10011900858
aggregate hours worked respond positively to a positive technology shock. Two novel aspects of the analysis are the scope (14 … hours. We show that the short-run response of aggregate hours to a positive technology shock is remarkably similar across …
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stronger (negative) than the direct wage share, when subject to a positive shock in capacity utilization. …
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