Sources of German Unemployment: Evidence from a Structural VAR Model


Linzert, Tobias


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URL: http://ub-madoc.bib.uni-mannheim.de/474
URN: urn:nbn:de:bsz:180-madoc-4747
Document Type: Working paper
Year of publication: 2001
Publication language: English
Institution: Sonstige Einrichtungen > ZEW - Leibniz-Zentrum für Europäische Wirtschaftsforschung
MADOC publication series: Veröffentlichungen des ZEW (Leibniz-Zentrum für Europäische Wirtschaftsforschung) > ZEW Discussion Papers
Subject: 330 Economics
Classification: JEL: J60 E24 ,
Subject headings (SWD): Deutschland , Arbeitslosigkeit , Makroökonomie
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.
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Das Dokument wird vom Publikationsserver der Universitätsbibliothek Mannheim bereitgestellt.




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Linzert, Tobias (2001) Sources of German Unemployment: Evidence from a Structural VAR Model. Open Access [Working paper]
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