Zusammenhang von Löhnen, Preisen und Beschäftigung in Deutschland von 1975 bis 2002
In: List Forum Band 31
This paper examines the relationship between wages, prices and employment in Germany (from 1975 to 2002) with the help of economic models. Central results are: A growth in real GDP of 1% leads to an increase of employment of 0.8% - assuming stable real wages. On the other hand an increase in real wages of 1% results in a reduction of employment by 0.8% - now assuming a stable GDP. Nevertheless economic growth still increases the rate of employment - but wage policy counteracted in the past. The main source of influence on the price level are the unit labour costs, although a certain influence of the unit labour costs on the price level can observed. The Phillips curve is a statistical illusion, which derives from a combination of cyclical movements and long-termed trends.(Original text only available in german language)
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