Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/17751
Authors: 
Gottschalk, Jan
Year of Publication: 
2002
Series/Report no.: 
Kiel Working Paper 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

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