| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP6443 |
| DP6443 Small Family, Smart Family? Family Size and the IQ Scores of Young Men | |
| Kjell G Salvanes; Sandra Black; Paul J. Devereux | |
| 发表日期 | 2007-08-24 |
| 出版年 | 2007 |
| 语种 | 英语 |
| 摘要 | The conventional diagnosis of Germany?s poor economic performance focuses on supply-side weaknesses and the need for more vigorous reforms to make low-skill labour markets more flexible. We question this on both theoretical and empirical grounds. In an extended version of a New Keynesian model shifts in aggregate demand can move the economy along a range of constant-inflation medium-run unemployment equilibria. The evolution of the real exchange rate and the external balance help to identify whether aggregate supply or aggregate demand shifts have been dominant in accounting for changes in unemployment. We provide some prima facie evidence for Germany and the UK that aggregate demand factors have played an important role in sustaining growth in the UK and weakening it in Germany over the medium run. We show that Germany has a relatively strong record in implementing OECD recommended reforms but the expected employment effects in low-skill service sectors appear disappointing and poverty has increased. By contrast, it is in high productivity sectors including services that the German economy has performed well, especially in exports. Here labour markets are not flexible in the conventional sense: codetermination, vocational training, and coordinated wage bargaining are important. We pursue the implications of these claims for the design and political economy of reforms in Germany. |
| 主题 | International Macroeconomics |
| 关键词 | German economic performance Macroeconomic policy Labour market reforms Aggregate demand |
| URL | https://cepr.org/publications/dp6443 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/535278 |
| 推荐引用方式 GB/T 7714 | Kjell G Salvanes,Sandra Black,Paul J. Devereux. DP6443 Small Family, Smart Family? Family Size and the IQ Scores of Young Men. 2007. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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