Despite massive digitization efforts, the German economy has experienced a marked slowdown in its productivity growth … that commenced around 2005. The successful integration of five million predominantly low-productivity workers into the … labor market induced an attenuating effect on productivity growth. This does not explain the slowdown entirely, however. As …

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 …

We identify the main shock driving fluctuations in long‐horizon productivity expectations, consistent with theories of … TFP news. The identified shock induces strong comovement patterns in output, consumption, investment, employment, and … news shock. The model also matches the empirical patterns of vacancies, labor force participation, hours, and job …

percent of the slowdown in productivity growth in Germany since the early 2000s can be explained by the SBTC development …-biased technical change for the flattening of productivity growth and effects on hours worked. The results show that more than 60 … des Produktivitätswachstums in Deutschland seit den frühen 2000er Jahren erklärt. Außerdem reduzieren SBTC-Schocks das …

parameter restrictions. A cointegration analysis for the unified Germany reveals a long rum relationship between real wages …, productivity and unemployment which is interpreted as a wage setting relation. From a Subset VECM we identify meaningful structural …. We compare these results to results from a standard SVECM and find that, using the Subset VECM reduces estimation …