Wage Levels and Employment — On Economic Policy Advice Using the Multi-Country Model NiGEM by Thomas Theobald, Rudolf Zwiener, Camille Logeay

“…But with statistically validated modifications, the results and the economic policy statements of the simulations by the German Council of Economic Experts and the Deutsche Bundesbank find that a higher wage path now stimulates domestic demand more strongly because the set employment losses do not materialise. …”
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