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Title:Sources of German unemployment: evidence from a structural VAR model PDF Logo
Authors:Linzert, Tobias
Issue Date:2001
Series/Report no.:ZEW Discussion Papers 01-41
Abstract:This paper analyzes the dynamic effects of different macroeconomic shocks on unemployment in Germany. In a first step, a cointegration analysis of productivity, prices, real wages, employment, and the unemployment rate reveals two long run relationships, interpreted as a labor demand and a wage setting scheme. Secondly, a structural VAR model is identified using the restrictions suggested by a single macroeconomic model. The impulse response analysis and the forecast error variance decomposition display that price, demand, and labor supply shocks affect unemployment significantly in the short/medium run. Interestingly, however, wage and technology shocks do not seem to play a dominant role.
Subjects:Unemployment
Structural VAR
Cointegration
JEL:E24
J60
Document Type:Working Paper
Appears in Collections:ZEW Discussion Papers
Publikationen von Forscherinnen und Forschern des ZEW

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