Person:
Fernández Sánchez, Rafael

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First Name
Rafael
Last Name
Fernández Sánchez
URI
https://hdl.handle.net/20.500.14352/74619
Affiliation
Universidad Complutense de Madrid
Faculty / Institute
Ciencias Económicas y Empresariales
Department
Economía Aplicada, Estructura e Historia
Area
Economía Aplicada
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Author: Fernández Sánchez, Rafael × Subject: 339.9 ×

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    Unit Labour Costs in the Success of German Exports (1999-2007)
    (Revista de Economía Mundial, 2016) Garzón Espinosa, Eduardo; Fernández Sánchez, Rafael
    The German commercial success is often associated to the strategy of internal devaluation that entailed a moderate wage growth. However, the main argument in this paper is that necessarily there have to be other important and different factors that explain the outstanding trade performance, especially the evolution of productivity derived from different export specializations between commercial partners. Therefore, the German export performance is studied in relation to the evolution of the unit labour costs focusing on both unit wages and productivity dynamics sorted by manufacturing branches and particularly in comparison with the four largest economies in the Euro Zone: Spain, Italy, France and the Netherlands. The main conclusion of the study is that the favourable German export dynamic was positively related to the development of unit labour costs primarily through the productivity performance and not via the evolution of wages.