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If it is below it, the employee is not guaranteed to secure existence despite full employment. [first] (adsbygoogle = window.adsbygoogle || []).push({});after-content-x4Table of ContentsTermination [ Edit | Edit the source text ] General definition [ Edit | Edit the source text ] OECD-Definition [ Edit | Edit the source text ] Demoluctor [ Edit | Edit the source text ] Wage dumping [ Edit | Edit the source text ] minimum wage [ Edit | Edit the source text ] Development of the low -wage sector [ Edit | Edit the source text ] Affected people of the low -wage sector [ Edit | Edit the source text ] Effects of the low wages [ Edit | Edit the source text ] Measures against low wages [ Edit | Edit the source text ] Germany [ Edit | Edit the source text ] Termination [ Edit | Edit the source text ] Development of low wages [ Edit | Edit the source text ] Historical background [ Edit | Edit the source text ] Economic reasons [ Edit | Edit the source text ] Affected [ Edit | Edit the source text ] Measures against low wages in export countries [ Edit | Edit the source text ] Surveillance system [ Edit | Edit the source text ] Official minimum standards in trade agreements [ Edit | Edit the source text ] Effects of low wages in export countries on economies [ Edit | Edit the source text ] Termination [ Edit | Edit the source text ] General definition [ Edit | Edit the source text ] The term low wages are made up of two components, “low” and “wages”. The latter refers to the gross wages or content paid effectively from the dependent work including Christmas bonus, vacation allowance, surcharges as well as bonuses and nature services. [2] \u201cLow\u201d is a gross wage if he is not sufficient from full -time employment to ensure the existence of the employee. The low -wage is therefore on the edge of the poverty line, which, as an absolute border in Germany, is, for example, the social welfare level (see unemployment benefit II). (adsbygoogle = window.adsbygoogle || []).push({});after-content-x4Cheap wage is the colloquial Description for low wages or for extreme low wages. The term is particularly familiar in the word cheap wage country. Most illegally employed working immigrants in Germany, especially from Eastern Europe and z. B. in the construction aid industry, are therefore effective, because part of the money that the builder has to the subcontractor black pays with it. The employee then only receives between \u20ac 4.50 and \u20ac 6.50 per hour in the day. In German -speaking countries one speaks at legal employees of cheap wages when the fee for a working hour significant Lies below the lower limit of the collective bargaining of relevant trade, even among the low wages defined above. Affected by wages that are less than \u20ac 7.50 per hour and thus a full -time survival of a adult person not secure, z. B. Young hairdressers, waiters, guard service employees, call center employees and auxiliary workers outside the fields of work with wages. Retting messenger in post-competition companies received a low-cost wage until Post AG put pressure in competition and a minimum wage of over \u20ac 9 per hour in the industry a few years ago Against the resistance of the employees enforced in the other postal companies. OECD-Definition [ Edit | Edit the source text ] In line with the definition of the OECD, low wages are referred to as a gross wage that is below two thirds of the national median gross wage of all full -time employees. The median wage is the median of the series of numbers, consisting of the effectively paid gross wages of all full -time people in the country. [3] This means that half of all employees earn more than the median wage, the other accordingly less than the median wage. Demoluctor [ Edit | Edit the source text ] Wage dumping [ Edit | Edit the source text ] Wage dumping concerns the export prices for goods and services in the export country than those common on the world market, which are caused by lower labor costs (personnel costs and non -wage costs) in a low -wage country. [4] Wage dumping is recognized by the world trade organization- such as eco-, social and valuadading- as a legal means of competitiveness of a state [5] And is therefore not a forbidden dumping because it is a cost advantage and not spatial price differentiation. The Federal Court of Justice (BGH) goes from wage usury ( \u00a7 291 Paragraph 1 No. 3 of the Criminal Code) if the remuneration is below 2\/3 of the customary or tariff wage. [6] The Federal Labor Court (BAG) followed this with its judgment in April 2009. [7] Wage dumping does not exist if the wages meet the border productivity of the work. minimum wage [ Edit | Edit the source text ] Minimum wage is a legally regulated wages that represents the minimum for employment. The height of the minimum wage is often close to the index of the low wage. (adsbygoogle = window.adsbygoogle || []).push({});after-content-x4Development of the low -wage sector [ Edit | Edit the source text ] The following important information is still missing in this article or section: The history of the low wage before the 1980s is missing. Both the low -wage problem as a result of the industrial revolution as well as the disappearance of the low -wage sector in the 1960s and 1970s Help the Wikipedia by researching it and Insert. Since the late 1980s the Low -wage sector by technical change and globalization, i.e. the increase in international trade and the division of the global economic division of labor. Market -oriented low -productive activities have increasingly been replaced by imports. The low -qualified employment in the industrialized countries decreased, while more and more people asked for such employment because more women wanted to become employed and immigrated more workers. In contrast, more and more highly qualified employees were sought. As a result, wages for low -qualified jobs dropped, while wages for highly qualified employment rose through the excess of demand. The growth of the low -wage sector was favored by the fact that statutory minimum wages either were completely missing or that existing minimum wages sank real because they were not raised for years. Since fewer and less employed people organized themselves and the wage negotiating system continued to split up, the employees had nothing to oppose the emergence of low wages. [8] In Germany, the development of the low-wage sector was promoted with the implementation of the Hartz concept. At the World Economic Forum in Davos on January 28, 2005, the then Chancellor Gerhard Schr\u00f6der said: \u201cWe have to and we have liberalized our job market. We have built one of the best low -wage sectors that exist in Europe. I advise everyone who deals with dealing with the circumstances, and not just with the reports on the circumstances. Germany tends to put its light under the bushel, even though it is the most false thing you can actually do. We have built up a functioning low -wage sector, and we have put incentives in the foreground in the support payment of taking up work. [9] ” Affected people of the low -wage sector [ Edit | Edit the source text ] According to different empirical studies, the following groups of people are exposed to an above -average low -wage risk: The highest risk of only being remunerated with a low-wage of less than \u20ac 9.30 per hour-according to surveys by the Institute for Labor and Qualification (IAQ) of the University of Duisburg-Essen-with 46.6% employees without a vocational qualification (38.8 % of men, 53.4% \u200b\u200bof women). Depending on employees with completed vocational training, 24.3% are affected (17.2% of men and 31.6% of women). At the employed academics, 8.6% falls below the low -wage threshold. [ten] Low wages are particularly concentrated Small businesses Certain branches such as trade and service sectors Effects of the low wages [ Edit | Edit the source text ] The quality of the workplace is directly related to the amount of wages. The lower the remuneration, the worse the working conditions. “Low wages are therefore always equated with poor working conditions, inadequate social security and no opportunities for further training, qualification and professional career.” Low wages also require insufficient wage replacement benefits in the event of unemployment and illness. From a social and social perspective, low wages are not only triggered for poverty in old age, but they are also the cause of the impoverishment of a significant part of the economy. Measures against low wages [ Edit | Edit the source text ] The legally regulated minimum wage is considered a well -known measure against low wages. However, this can only work in favor of the employees if it lies above the defined low -wage and not below. In addition, the minimum wage requires an annual raising according to inflation in order to counteract low wages. If there is no statutory minimum wage, comprehensive collective negotiation systems regulate the minimum sets in the individual sectors. The measures with the strongest direct effect are, in particular, higher wage increases in the lower wage groups or even the abolition of these lower wage groups. [11] “The claim to the employer to pay appropriate wages is synonymous with the call to change their personnel development policy and a change in their attitude to qualifications, further training, recruitment of personnel and personnel retention of those employees at the end of the wage scale.” [11] Low wages are to be increased by increasing average national productivity, which should also act in favor of the sectors with low productivity. Germany [ Edit | Edit the source text ] Year Low-wage Recipient (from all employees) Low- Salary- Border Ugly pro Month Low- Salary- Border Ugly pro Hour Those 1994 16% [twelfth] 1995 15%\u201317% [twelfth] [13] 1996 16% [twelfth] 1997 17% [twelfth] 1998 17% 1,546 \u20ac [twelfth] [14] 1999 18% [twelfth] 2000 19% [twelfth] 2001 19% [twelfth] 2002 20% [twelfth] 2003 21% [twelfth] 2004 22% [twelfth] 2005 21% 1,779 \u20ac [twelfth] [14] 2006 20%\u201322% 9.85 \u20ac [twelfth] [15] 2007 23% 9.62 \u20ac [twelfth] [16] 2008 22% 9.50 \u20ac [twelfth] [16] 2009 20%\u201322% 1,784 \u20ac 9.50 \u20ac [twelfth] [17] [18] 2010 21% 1.802 \u20ac [19] 2014 1,993 \u20ac 10 \u20ac [20] 2015 2.056 \u20ac [21] 2017 22.8% 2.139 \u20ac 10.80 \u20ac [twelfth] The gross wage fee is considered by full-time employees subject to social security contributions. In 2009 it was in western Germany for half of this group under or over 14.25 euros\/hour (median). The low -wage limit was 9.50 euros\/hour. [13] The median in 2009 was 2676 euros\/month, the low -wage limit at 1784 euros\/month. A low -wage received (depending on the source) 20.2% to 22% of the group. [twelfth] [17] Germany has had a general minimum wage since 2015. The minimum wages of the other European countries are 40.5% to 62.7% of the respective country-specific full-time median wage. [22] For German temporary employment agencies, for example, a minimum wage of 7.80 euros was decided by the unions of the German Trade Union Confederation with the temporary employment agencies. Nevertheless, cases of wage dumping appear even in the case of temporary employment agencies, with the minimum wage being significantly undercut. [23] In 2010, 1,383 million people in Germany earned so little that as a so -called upstocker they also received unemployment benefit II in order to achieve basic security. [24] In May 2018, these were 1.108 million people. [25] According to the information in the fourth poverty and wealth report of the Federal Government (2013), the proportion of employees with low wages (low-wage rate) in Germany is “According to calculations by the institute work and qualifications, a value of around 23 percent has risen from a good 20 percent to around 24 percent since 2000 to 2007.” [26] [27] [28] Termination [ Edit | Edit the source text ] Low -wage refers to a very low wage level of an export country compared to the importing country, whereby the former is represented by poor economies and developing countries and the latter through advanced industrialized states. A wage in an export country is low if it is in a very low ratio, measured by western standards. A low wage is characterized by the fact that the wages in the exporting economy is much less than that of an employee in an importing industrial state for comparable activity at the same age. The hourly wages, for example for industrial products from developing countries, are usually less than 50 cents per hour, which are in total mismatch according to the standards of advanced countries. Such a low -wage employment in developing countries is usually associated with very hard working conditions, which in the 1990s came particularly with the criticism of globalization critics. [29] Development of low wages [ Edit | Edit the source text ] Historical background [ Edit | Edit the source text ] Since the second half of the 19th century, the implementation of international labor division and specialization in comparative advantages began for the first time in global economic history. So far, the import and the domestic economy have not yet been competitive, since trade was operated for a lack of substitutes. It was only around 1870 that there was increasing specialization in Europe in the production of capital-intensive products, while agricultural and labor-intensive goods such as raw materials and agricultural products were delivered by the “New World” and colonial countries. This was the first historical step to form low -wage countries, as they still predominate today. The Glen Gray Act, which was initiated in 1894 in the then British Cape colony by Prime Minister Cecil John Rhodes, is the historical milestone of this labor market structure and euphoric Bill for Africa (German, for example: law for Africa). This law created a legislative basis for the basic racial separation policy and the economic model of later apartheid ideology. [30] Since the progressive globalization, which was disturbed by protectionism and economic isolation of governments in the First and Second World War and only blossomed in the 1960s, has also been observed increased internationalization of capital. This consisted of shifting the production of industrial products and services in developing countries that were able to use their favorable costs for the production factor of work as a comparative advantage. The background to the restructuring in particular from finished industry products in less advanced economies was in the profit maximization intention of international companies that saw cost minimization in the lower production wages in developing countries. By outsourcing industrial productions in developing countries, these are of greater importance than low -wage countries. [thirty first] Economic reasons [ Edit | Edit the source text ] The theory of the Ricardo model states, among other things, that the relative wage level of an economy usually corresponds to the relative level of productivity there (see graphic). In the event of perfect competition, remuneration takes place according to the border productivity of the work because employers can only pay wages until border productivity. Otherwise, the wage costs would drive up the costs of the actual production unnaturally.This means that a lesser wage is paid at lower productivity than with higher productivity. [32] China, India and Mexico have a strikingly low productivity compared to the other countries in this diagram. Your national wage level is accordingly low. In contrast, Japan, Germany and the USA stand out with high relative wages and high productivity (Hochlohnl\u00e4nder). The wage level of a country is proportional to its productivity. Land Hour wire for production workers, 2000 deer 100 Germany 121 Japan 111 Spain 55 South Korea 41 Portugal 24 Mexico twelfth Sri Lanka (1969) 2 Table: International wage rates in comparison (USA = 100) [33] Low -wage in developing countries is the result of the specialization of comparative advantages, i.e. the production of labor -intensive goods. The starting point is two countries with different productivity and workforce potential. In the developing country, workers are only barely available in abundance and capital, which is why wages are relatively low. However, wages are relatively high in industrialized countries in which work potential is relatively low and the capital is very abundant. Developing countries that are plenty of workers offer good location requirements for producers of labor -intensive but little capital absorbing goods. While industrialized countries with their low potential for labor and high wages appear to be attractive to those industries that produce capital -intensive. From these circumstances of factor prices, specialization in the industries that have comparative cost advantages occur. Accordingly, industrialized countries export capital -intensive products and developing countries labor -intensive goods. Historically, the brazen wage law and the impairment theory were postulated from a socialist side. Both are not confirmed empirically and play no role in the current discussion. Affected [ Edit | Edit the source text ] Low-wage countries are poor economies whose industry exports products to high-wage countries and fall under the terms threshold, development or third world countries. Low-wage recipients are therefore all the workers of an exporting development or emerging country in which the wage level is much lower compared to importing industrialized countries. In these countries, employees of the export industry are particularly affected by low -wage remuneration. In particular, employees in the field of electronics and clothing industry, but also employees in traditional agricultural production receive a much lower wage compared to the fee in Hochlohnl\u00e4nder that import these goods. Measures against low wages in export countries [ Edit | Edit the source text ] Surveillance system [ Edit | Edit the source text ] To improve wages and working conditions in poor economies, economists have proposed the introduction of a surveillance system, the findings of which are to be made accessible to all consumers of the first world. This idea is to be based on a type of market failure and the assumption that consumers in the industrialized countries prefer products that were produced by adequately remunerated workers. [34] A surveillance organ that checks the remuneration and working conditions in developing countries for certain minimum requirements are identified as checked that meet these requirements. Exporting industries in developing countries are therefore forced to implement the minimum standards, otherwise they would not find any or little buyers for their products. In practice, it becomes problematic, since it is generally not to be assumed that consumers prefer tested products in the industrialized countries, but rather use uncontrolled products due to lower prices. In addition, this regulation only affects employees of the exporting industry, the remaining employees in developing countries that make up the majority, are not subject to the minimum standards. Official minimum standards in trade agreements [ Edit | Edit the source text ] Low wages in developing countries can be countered by official minimum requirements that are integrated into trade agreements and contracts and must be observed by the export industries. These standards should not only regulate a minimum wage, but also appropriate working conditions in the poor countries. As a control instrument, the WTO, the task of which is to request the countries involved to comply with their international trade agreements. [35] Since these standards are drawn up by the politicians of advanced states, many developing countries defend themselves against it, as they see a competitive disadvantage in it. For these reasons, this instrument is also rather questionable. Effects of low wages in export countries on economies [ Edit | Edit the source text ] The effect of low wages in poor economies can be illustrated by the following example. Two countries A and B are accepted with different productivity. In both countries there are only two industries, high technology and low technology. The work factor of work is more productive than B. in both industries in the state A It is assumed from the assumption that Land A needs an hour of work to produce a unit of quantity in both industries, while in Land B two working hours are necessary for a low technology unit and eight hours for one unit of high technology. Expressed in real wages, which are measured by the amount of goods how much one worker can produce per hour, it looks as follows: Land High technology operator\/hour Low technology operator\/hour A first first B 1\/8 1\/2 The formation of foreign trade between A and B creates a balance of the relative wages. In our case, wages in Land A are four times as high as in land B, both for high technology and low technology products: Land High technology operator\/hour Low technology operator\/hour A first 2 B 1\/4 1\/2 Since the production of low -technological goods in the country A and high -tech products in the country B is cheaper, high -paid jobs in the low -cost technology industry are replaced by poorly paid employment in the country B. Although the low technology industry is half productive in the country B (before foreign trade) as that in Land A, the workers still only receive a quarter of the country A. On the other hand, there was an increase in purchasing power in both countries. For example, employees in the country A, all of whom are now working in the high technology industry, can buy low -technological goods instead of a two quantity units. The state B, which represents the low-wage country, also learns a reduction in the import price in relation to the wage rate, so that per working hour in the low technology sector instead of a eighth now, a quarter of a high technology material. According to this example model, the specialization in comparative cost advantages brings a benefit increase in both countries.From the consideration of a Factor proportion model However, foreign trade can lead to losses in Land A, while the workers in Land B experience an income redistribution in their favor. [36] In practice, too, developing countries experience an increase in benefits despite their low wages through an international division of labor. Low wages in poor economies in the export industry are also inevitable in view of the far less productivity and the lack of alternatives. Compared to advanced countries, wages may be very low and the working conditions may be very bad, but these working conditions are still an improvement in terms of alternative employment opportunities in developing countries.It is controversial whether the increasing globalization is at the expense of employees in advanced countries. Many opponents of globalization, for example, lead the argument of increasing low -wage development in low -qualified industries in industrialized countries as a result of international division of labor. Reinhard Bispinck, Claus Sch\u00e4fer: Low wages and minimum income. Data and discussions in Germany. In: Thorsten Schulten, Reinhard Bispinck, Claus Sch\u00e4fer (ed.): Minimum wages in Europe. VSA-Publising, Hamburg 2006, ISBN 3-89965-154-5, PRAGHLY, S.009-297-297-297-297-297-297. Gerhard Bosch, Claudia Weinkopf: Working for little money. Low wage employment in Germany. Campus-Verlag, Frankfurt am Main u. a. 2007, ISBN 978-3-593-38429-0. Gabler Economic Lexicon. 4 volumes. 16., fully revised and updated edition. Gabler, Wiesbaden 2004, ISBN 3-409-12993-6. Paul R. Krugman, Maurice Obstfeld: International economy. Theory and policy of foreign trade. 7., updated edition. Pearson studies, Munich and a. 2006, ISBN 3-8273-7199-6. Henning Lohmann: Poverty of employed people in European welfare states. Low wages, state transfers and the role of the family. VS Verlag for Social Sciences, Wiesbaden 2007, ISBN 978-3-531-15745-0. Gerd Pohl, Claus Sch\u00e4fer (ed.): Low wages. The unknown reality: poverty despite work. Empirical inventory and political solutions. Vsa-Publis, Hamburg 1996, ISBN 38.87995-684-8. Claus Sch\u00e4fer (ed.): Low wages – more employment? Low-wage policy. VSA-Publlow, Hamburg 2000, ISBN 3-87975-75-750-X. Wolfgang Strengmann-Kuhn: Poverty despite employment. Analyzes and socio -political consequences (= Frankfurt contributions to business and social sciences. Series of the Hans and Traute-Matth\u00f6fer Foundation. Vol. 8). Campus-Verlag, Frankfurt am Main and a. 2003, ISBN 3-593-37087-5 (at the same time: Frankfurt am Main, University, Dissertation, 2002). WSI communications , 2003, No. 7, Boeckler.de, Claus Sch\u00e4fer: Effective low wages in Germany (PDF; 121\u00a0kB) deutschlandfunk.de, Case , June 2, 2017, Agnes Steinbauer: How cheap jobs split society IAQ Report, No. 2008-01, Thorsten Kalina, Claudia Weinkopf: Further increase in low -wage employment: around 6.5 million employees already affected in 2006 . (PDF; 121\u00a0kB) Helga spindles, Tacheles-Sozialhilfe.de: Limits to the reasonableness of work for low wages and wage usury (2003) Zeit.de, July 27, 2010: Every fifth German works for low wages “… A study shows that more Germans have never been worked in the low -wage sector before. In the past ten years, their number has increased by more than two million. … ” IDW: Low wage sector: Sackgasse instead of jumping stone. Study by the Bertelsmann Foundation. July 2, 2020 (accessed on July 8, 2020) “Low -wage sector: Sackgasse for women and the elderly, springboard for younger” \u2191 Claus Sch\u00e4fer: Low wages – more employment? Low wage policy. Vsa-publisher, Hamburg 2000, P. P. 77. \u2191 Gabler’s business lexicon . 16th edition. Wiesbaden 2004, p. 1920. \u2191 Henning Lohmann: Poverty of employed people in European welfare states. Low wages, state transfers and the role of the family. 1st edition. VS Verlag for Social Sciences, Wiesbaden 2007, p. 109 \u2191 Reinhold Sellien, Dr. Gabler’s business lexicon , Band 4, 1977, Sp. 152 \u2191 Carsten Lenz\/Nicole Ruchlak, Little Political Lexicon , 2001, S. 235 \u2191 BGH, judgment of April 22, 1997, Az.: 1 StR 701\/96 = BGHSt 43, 53 \u2191 BAG, judgment of April 22, 2009, Az.: 5 AZR 436\/08 = Bake 130, 338 \u2191 Claus Sch\u00e4fer: Low wages – more employment? Low wage policy. VSA-Publising, Hamburg 2000, S. 30-33 \u2191 Speech by Federal Chancellor Gerhard Schr\u00f6der in front of the World Economic Forum in Davos. (No longer available online.) Federal government, archived from Original am February 17, 2012 ; Retrieved on July 11, 2012 . \u2191 Press release of the IAQ, January 20, 2014 ( Memento from January 23, 2014 in Internet Archive ) \u2191 a b Strategies against low wages . ( Memento from October 6, 2008 in Internet Archive ) (PDF; 116.4 KB) Fundamental document of the European Trade Union Association for the Public Service (Eg\u00f6d), created on June 14, 2006. \u2191 a b c d It is f g h i j k l m n O p q r Soep, Institute of the German Economy Cologne, without a trainee, quoted accordingly insm.de \u2191 a b DGB.DE \u2191 a b doku.iab.de (PDF; 640\u00a0kB) \u2191 Destatis.de: Press release No.304: The scope of atypical employment has increased. 19.\u00a0August 2009, Retrieved on December 14, 2011 . \u2191 a b IAQ 2011; cited Low -wage area: springboard in employment. Arbeitgeeber.de, Retrieved on December 14, 2011 . \u2191 a b Focus.de ( Memento from March 4, 2016 in Internet Archive ) \u2191 Despite the full -time position: Every fifth works below the low -wage limit. In: welt.de. 18.\u00a0November 2010, Retrieved on December 14, 2011 . \u2191 Trend towards the low -wage society has accelerated – around one fifth affected. (No longer available online.) In: lvz-online.de. October 29, 2011, archived from Original am December 2, 2011 ; Retrieved on December 14, 2011 . \u2191 Working for less than one ten an hour. In: RBB-ANLINE.DE. December 11, 2016, accessed on June 23, 2017 . \u2191 Basil Wegener: Taxi ride to the low wage . In: Saxon newspaper . ( saechsische.de [accessed on April 13, 2020]). \u2191 Uni-Due.de (PDF) \u2191 Temporary work: 2.71 euros wage: “This is slavery” S\u00fcddeutsche.de \u2191 Number of Hartz IV top-ups further increased, Reuters, May 13, 2011 ( Memento of the Originals from December 3, 2013 in Internet Archive ) Info: The archive link has been used automatically and not yet checked. Please check original and archive link according to the instructions and then remove this note. @first @2 Template: Webachiv\/Iabot\/de.reuters.com \u2191 Statistics of the Federal Employment Agency from September 2018 \u2191 Fourth poverty and wealth report by the Federal Government (2013) (PDF) \u2191 See also Current research results from the Institute for Work and Qualification 06\/2018, Thorsten Kalina and Claudia Weinkopf: Low -wage employment 2016 – remarkable wage growth in the lower wage segment, but still a high proportion of employees with low wages \u2191 Markus Grabke, Carsten Schr\u00f6der: The low -wage sector in Germany is greater than previously agreed. (pdf) In: Weekly report 14\/2019. Diw-Berlin, accessed on April 29, 2019 . \u2191 Paul R. Krugman, Maurice Obstfeld: International economy. Theory and policy of foreign trade. 7th edition. Pearson Studium Verlag, Munich 2006, p. 351. \u2191 The Glen Grey experiment ( Memento from May 2nd 2014 in Internet Archive ) originally on www.newhistory.co.za (English) \u2191 Aili Rehbein: globalization . ( Memento from September 3, 2004 in Internet Archive ) WELTPOLITIK.NET (DGAP), 16. July 2004 \u2191 Paul Krugman and Maurice Obstfeld: International economy. Theory and politics of foreign trade . 7th edition, Munich 2006 \u2191 Paul Krugman, Maurice Obstfeld: International economy. Theory and politics of foreign trade . 7th edition, Munich 2006, p. 105 \u2191 Paul Krugman, Maurice Obstfeld: International economy. Theory and policy of foreign trade. 7th edition. Munich 2006, p. 354 \u2191 Paul Krugman, Maurice Obstfeld: International economy. Theory and policy of foreign trade. 7th edition. Munich 2006, p. 355 \u2191 Paul Krugman, Maurice Obstfeld: International economy. Theory and policy of foreign trade. 7th edition. 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