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COVID causes dip in migration: Higher wage pressure likely
Net migration towards Germany was much lower in 2020 than pre-COVID.
Net migration towards Germany was much lower in 2020 than pre-COVID. The migration flows from outside of the EU were particularly hampered whereas migration within the EU fell by 'only' 5% compared to 2019. As a consequence, the new demand for housing was much lower than in previous years which helped to reduce the housing shortage. By contrast, the lack of qualified and non-qualified workers in the labour market has become more severe through the pandemic. [more]
In terms of housing policy concepts in Germany, there are only minor overlaps between the plans of left-wing and right-wing parties. The CDU/CSU, the FDP, and the AfD continue to support supply-oriented housing policies. [more]
The consequences of the COVID-19 pandemic, ambitious climate policies, persistently negative interest rates, and large-scale security purchases by the ECB are increasingly raising the issue of a fair distribution. [more]
Germany has weathered the COVID-19 crisis better than most other EMU partners. With a much smaller output gap and additional headwinds from several structural trends it is more prone to experience higher inflation, in fact, it already has. [more]
Climate change is one of the most important global challenges of the century. The issue essentially involves developing energy sources that are as efficient, cost-effective and low-carbon as possible. [more]
Since the start of the COVID-19 pandemic the US has launched fiscal packages worth USD 5.3 trillion (25.5% of GDP). With new fiscal plans in the pipeline the total stimulus could even exceed USD 9 trillion (or 40% of 2020 GDP). [more]
The demand for office space will be largely shaped by the development of home office over the decade. There is no doubt that remote work has the potential to reduce demand for office space substantially and uncertainty remains unusually high. [more]
What is corporate Germany’s view on key election topics? A conservative-green government would be a novelty in German coalition history. Ahead of this critical political and economic juncture a lot is at stake for German corporates (e.g. [more]