How Has Germany's Economy Been Affected by the Recent Surge in Immigration?

Matthew Higgins and Thomas Klitgaard

No 20190520, Liberty Street Economics from Federal Reserve Bank of New York

Abstract: Germany emerged as a leading destination for immigration around 2011, as the country's labor market improved while unemployment climbed elsewhere in the European Union. A second wave began in 2015, with refugees from the Middle East adding to already heavy inflows from Eastern Europe. The demographic consequences of the surge in immigration include a renewed rise in Germany's population and the stabilization of the country's median age. The macroeconomic consequences are hard to measure but look promising, since per capita income growth has held up and unemployment has declined. Data on labor-market outcomes specific to immigrants are similarly favorable through 2015, but reveal challenges in how well the economy is adjusting to the second immigration wave.

Keywords: Germany; European Union; Europe; demographics; employment; labor markets; migration; immigrants; foreign workers; unemployment (search for similar items in EconPapers)
JEL-codes: E2 (search for similar items in EconPapers)
Date: 2019-05-20
New Economics Papers: this item is included in nep-mac and nep-mig
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