Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/24463
Authors: 
Linzert, Tobias
Year of Publication: 
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

Files in This Item:
File
Size
298.61 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.