To the extent that more educated workers display a greater mobility across firms, sectors and borders compared to workers with fewer qualifications, a higher level of education can contribute to containing the size of economic fluctuations and mitigating the effects of shocks because labour markets can adjust faster and in a manner that reduces output and employment volatility.
Seite 10 von 13 Deutsche Bundesbank, Directorate General Communications Wilhelm-Epstein-Strasse 14, 60431 Frankfurt am Main, Germany, Tel: +49 (0)69 9566 3511 or 3512, Fax: +49 (0)69 9566 3077 presse@bundesbank.de, www.bundesbank.de Reproduction permitted only if source is stated.