TY  - RPRT
        AU  - Gehrke, Britta
AU  - Lechthaler, Wolfgang
AU  - Merkl, Christian
        TI  - The German Labor Market during the Great Recession: Shocks and Institutions
        PY  - 2018/Sep/
        PB  - Institute of Labor Economics (IZA)
        CY  - Bonn
        T2  - IZA Discussion Paper
        IS  - 11858
        UR  - https://www.iza.org/publications/dp11858
        AB  - 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.
        KW  - Great Recession
KW  - search and matching
KW  - DSGE
KW  - short-time work
KW  - fiscal policy
KW  - business cycles
KW  - Germany
        ER  -