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Journal for Labour Market Research
Fig. 2 | Zeitschrift für ArbeitsmarktForschung

Fig. 2

From: The German labor market response in the world recession – de-mystifying a miracleDie Reaktion des deutschen Arbeitsmarktes auf die Weltrezession – Entzauberung eines Wunders

Fig. 2

Actual real GDP growth, trend and cylical component, Germany 1950 to 2009. Trend calculated by using a Hodrick–Prescott filter with smoothing parameter λ \( = \) 100. Source for original data: Deutsche Bundesbank; the year 2009 was not included in the calculation of the HP filter; the trend value for 2009 was extrapolated from the previous year; actual growth rate of GDP for 2009 based on the current forecast of the federal government

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