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The German labor market in the Great Recession: Shocks and institutions

Britta Gehrke (), Wolfgang Lechthaler and Christian Merkl ()

No 201714, IAB Discussion Paper from Institut für Arbeitsmarkt- und Berufsforschung (IAB), Nürnberg [Institute for Employment Research, Nuremberg, Germany]

Abstract: "This paper analyzes Germany's unusual labor market experience during the Great Recession. We estimate a general equilibrium model with a detailed labor market block for postunification Germany. This allows us to disentangle the role of institutions (short-time work, government spending rules) and shocks (aggregate, labor market, and policy shocks) and to perform counterfactual exercises. We identify positive labor market performance shocks (likely caused by labor market reforms) as the key driver for the 'German labor market miracle' during the Great Recession." (Author's abstract, IAB-Doku) ((en))

Keywords: Rezession; Arbeitsmarktentwicklung; institutionelle Faktoren; Kurzarbeit; arbeitsmarktpolitische Maßnahme; öffentliche Ausgaben; Hartz-Reform; Arbeitslosigkeitsentwicklung (search for similar items in EconPapers)
JEL-codes: E24 E32 E62 J08 J63 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-dge, nep-eec, nep-lab and nep-mac
Date: 2017-04-14
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Persistent link: https://EconPapers.repec.org/RePEc:iab:iabdpa:201714

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