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Wage Growth Trends.pdf

Schoenberg_Uta_Paper.pdf
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🔗 Source: ecb.europa.eu
📊 Size: 563 KB
👤 Author: Uta Schönberg, University College London
⬇️ Downloads: 262

Summary

Labor productivity grew similarly in France and Germany over 20 years, but wages stagnated in Germany until 2008, while increasing in France. Germany's unemployment is now low, but France's remains high. The US and UK had healthy productivity growth before the Great Recession, but it has since stagnated. Spain and Italy have experienced little improvement in living standards due to stagnating labor productivity and high unemployment. Scandinavian countries have robust productivity growth and low unemployment. The labor share in GDP declined in Germany and the US, with increasing wage inequality, but remained constant or declined in other countries. Union agreements and collective bargaining play a significant role in wage setting, with differences between Germany and France contributing to their divergent trends.

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Description

Labor productivity grew similarly in France and Germany over 20 years, but wages stagnated in Germany until 2008, while increasing in France.

Technical Information

  • File Format: PDF
  • File Size: 563 KB
  • Pages: 35
  • Language: EN
  • Author: Uta Schönberg, University College London
  • Total Downloads: 262
  • Last Updated: 12 hours ago

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