Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/208044
Authors: 
Buchheim, Lukas
Watzinger, Martin
Wilhelm, Matthias
Year of Publication: 
2019
Series/Report no.: 
Discussion Paper No. 144
Abstract: 
Do investment programs create more jobs in tight or in slack labor markets? We study this question using data from a large, long-term photovoltaic invest scheme in Germany. Comparing counties with high and low unemployment both over time and across space, we find that photovoltaic installations created at least twice as many jobs in slack than in tight labor markets. Our results suggest that the differences in job-creation are not driven by changes in the composition or prices of investment, capital-labor substitution, or regional migration. This leaves crowding-out as the most plausible mechanism.
Subjects: 
Local Employment Multiplier
State-dependent Multiplier
JEL: 
E24
E62
J23
R23
Document Type: 
Working Paper

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