1  I am very grateful to Bernhard Winkler and Andreas Hertkorn for their valuable contributions. BIS Review 108/2009  1  In addition, there have been a few economists, who spent their time looking deeply into the intricacies of the national accounts, before pronouncing themselves on the future course of events. Their simple message was: what cannot go on forever has to reverse.
In order for wage increases to spread in a sustainable manner, it is necessary for these to become full-fledged, especially among large firms, for which profits have improved  11  significantly, and there need to be initiatives toward spreading the positive impact of increased profits overall, particularly to small and medium-sized firms, through improved business contract terms and other factors.