A German crisis?
This opinion piece was published in Caixin and Caixin(English). Jamaica has failed: the negotiations to form a new government in Germany by the so-called “Jamaica” partners, named after the colours of the parties that a...
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German wages, the Phillips curve and migration in the euro area
This post studies why wages in Germany have not borne strong increases despite a relatively strong labour market. I list four reasons why announcing the death of the Phillips curve – the negative relationship between une...
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Interview in Il Sole24 on breakdown of Jamaica negotiation (in Italian)
My interview is here. “L’impasse nella formazione governativa in Germania potrebbe portare a una paralisi in campo europeo e a congelare (blow back) le riforme strutturali proposte dal presidente francese Emmanuel Macr...
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What has driven the votes for Germany’s right-wing Alternative für Deutschland?
The AfD vote in East Germany was consistently stronger than in the West, even after controlling for income, age, education, religion and the overall rural nature of the new Bundesländer. This was first published on Brueg...
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A Jamaican Germany could be good for Europe
A shortened version of this opinion piece has been published by the Financial Times. Germany has voted – and the result has been a shock to Germans and to Europe. The AfD – an extremely right wing, and in part neo-nazi, ...
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Europa sinnvoll gestalten
This opinion piece was published in FAZ on Friday, 28 April, 2017. Weder gute Wachstums- und Beschäftigungszahlen noch das schlechter als erwartete Abschneiden des Populisten Geert Wilders können darüber hinwegtäu...
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The global decline in the labour income share: is capital the answer to Germany’s current account surplus?
This policy contribution was published by Bruegel. Please find the pdf here. The piece was nicely covered by Martin Wolf in the FT. This paper links the major divergences between the three largest euro-area countries in ...
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