Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/157356
Authors: 
Gehrke, Britta
Lechthaler, Wolfgang
Merkl, Christian
Year of Publication: 
2017
Series/Report no.: 
FAU Discussion Papers in Economics 09/2017
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 post-unification 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.
Subjects: 
Great Recession
search and matching
DSGE
short-time work
fiscal policy
business cycles
Germany
JEL: 
E24
E32
E62
J08
J63
Document Type: 
Working Paper

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