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Europe > Switzerland

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  • Type: Journal Issue x
  • Labor Standards: Labor Force Composition x
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Cover IMF Staff Country Reports
Germany: Selected Issues
International Monetary Fund
This Selected Issues paper on Germany reviews investment trends and business capital stock in Organization for Economic Co-operation and Development (OECD) countries. Sharp wage increases are found to boost capital formation in the short term as employers substitute capital for labor at a rate that adjusts to the higher relative price for labor. To limit the political economy biases to fiscal policy, the paper explores options to strengthen budgetary institutions, notably more transparency; stronger budgetary rules; and more room for Länder governments to mobilize revenue and tailor spending to local circumstances.
Keywords:
ISCR; CR; growth rate; government; payroll burden; social security contribution rate; inflation differential; capital accumulation; equilibrium exchange rate; payroll cost; Unemployment; Labor force participation; Wages; Employment; Europe