Germany: Selected Issues

June 29, 2016

Preview Citation

Format: Chicago

Germany: Selected Issues, (USA: International Monetary Fund, 2016) accessed September 18, 2024

Summary

This paper analyzes the macroeconomic impact of targeted labor market reforms aimed at boosting employment and labor productivity and the price responsiveness of German residential investment. Germany’s population is getting older, and potential growth is set to decline. Demographic projections suggest that labor force will start declining around 2020, and will drop at an accelerating pace once immigration flows normalize. After years of stagnation, German housing prices and new residential rents have increased more steeply since 2009, especially in large cities. This paper provides econometric evidence that supply response to changes in housing prices has declined over the past several years and discusses how various housing policies can foster this response.

Subject: Housing, Housing prices, Labor, Labor markets, Labor supply, National accounts, Price elasticity, Prices

Keywords: Building land price variable, Construction, Construction cost, CR, Global, Housing, Housing prices, Inflation expectation, ISCR, Labor market integration, Labor markets, Labor supply, Labor tax wedge, Price, Price elasticity, Rate, Replacement rate, Residential construction

Publication Details

Pages:

22
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2016/203
Stock No:

1DEUEA2016011
ISBN:

9781498334020
ISSN:

1934-7685

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