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|Title:||East German unemployment : the myth of the irrelevant labor market |
Snower, Dennis J.
|Issue Date:||2008 |
|Series/Report no.:||Kiel working paper 1435|
|Abstract:||This paper indicates that East Germany's unemployment originates primarily in the labor market, caused by the fast wage adjustment after German reunification. We model the resulting labor market traps in a search and matching framework, show that they are difficult to overcome, and provide empirical evidence. We argue that under these circumstances, demand-side policies are effective mainly when they increase the economy's overall productivity and thereby help overcome the labor market traps.|
labor market trap
|Document Type:||Working Paper|
|Appears in Collections:||Kieler Arbeitspapiere, IfW|
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