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Title:Keynesian and monetarist views on the German unemployment problem : theory and evidence PDF Logo
Authors:Gottschalk, Jan
Issue Date:2002
Series/Report no.:Kieler Arbeitspapiere 1096
Abstract:Persistently high unemployment rates in Germany have led to a long-running controversy on the causes of the unemployment problem. This paper aims to re­view the contribution of Keynesian and monetarist theories to this controversy and explores empirically their implications for the explanation of high un­em­ploy­ment in Germany using a structural vector regression approach. In addition, this paper discusses the so-called wage gap which plays an important role in the debate whether the German unemployment problem is a real wage problem. Even though this paper cannot hope to settle the unemployment controversy, it nevertheless shows why a consensus has remained elusive.
Subjects:Unemployment
Phillips Curve
Structural Vector Autoregressions
JEL:C32
E24
B22
Document Type:Working Paper
Appears in Collections:Publikationen von Forscherinnen und Forschern des IfW
Kieler Arbeitspapiere, IfW

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