Over the last two years, economic expansion in the euro area has gathered pace. So far, improving economic conditions and falling unemployment has only translated into higher wages to a limited extent: Since 2013, GDP per capita has expanded on average by 1.2% annually while real wages have risen by just 0.7%. The conventional explanation […]
Pola Schneemelcher and Philipp Ständer
Pola Schneemelcher and Philipp Ständer are research fellows at the Jacques Delors Institut, Berlin.