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| Author: | Thimann, C. Breitner, M. |
| Title: | Eastern Germany and the conflict between wage adjustment, investment, and employment: a numerical analysis |
| Journal: | Weltwirtschaftliches Archiv
1995 : VOL. 131:3, p. 446-469 |
| Index terms: | GERMANY, EAST CONFLICT PAY |
| Language: | eng |
| Abstract: | Despite four years of active restructuring and enormous support from western Germany, the overall level of economic activity in Eastern Germany is still low and has a long way to go catch up with the west. In this paper, the authors want to shed some light on these issues. The aim is to complement the discussion on east German transformation by estimating the cost of the chosen wage strategy in terms of less investment and lower employment. The authors focus on the dynamic conflict between wages, investment and employment by presenting an extended adjustment cost model of investment. |
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