Unit Labour Costs in the Success of German Exports (1999-2007)

The German commercial success is often associated to the strategy of internal devaluation that entailed a moderate wage growth. However, the main argument in this paper is that necessarily there have to be other important and different factors that explain the outstanding trade performance, especially the evolution of productivity derived from different export specializations between commercial partners. Therefore, the German export performance is studied in relation to the evolution of the unit labour costs focusing on both unit wages and productivity dynamics sorted by manufacturing branches and particularly in comparison with the four largest economies in the Euro Zone: Spain, Italy, France and the Netherlands. The main conclusion of the study is that the favourable German export dynamic was positively related to the development of unit labour costs primarily through the productivity performance and not via the evolution of wages.
Revista: 
43
Autores: 
Eduardo GARZÓN ESPINOSA and Rafael FERNÁNDEZ SÁNCHEZ
Archvo adjunto: 
Sección: 
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