GDP-Employment Decoupling and the Productivity Puzzle in Germany

URN to cite this document:: urn:nbn:de:bvb:355-epub-317510
DOI to cite this document:: 10.5283/epub.31751

Klinger, Sabine ; Weber, Enzo

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Date of publication of this fulltext: 27 Apr 2015 11:58

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Abstract

This paper investigates the productivity puzzle in Germany. We focus on the time-varying relationship between German output and employment growth, in particular their decoupling in recent years. We estimate a correlated unobserved components model that allows for both persistent and cyclical time variation in the employment impact of GDP as well as an autonomous employment component capturing ...