flexibility has also affected how firms adjust employment in Germany. Using a rich microeconomic dataset, we show that firms with … the key driver of the unusually small increase in German unemployment in the Great Recession. …

are that policy has effects on the stochastic behavior of key variables - measures that reduce unemployment also reduce … its persistence and increase the volatility of vacancies. Hiring subsidies and unemployment benefits have substantial …

, selective survey of the literature. Four fundamental questions are explored: how are unemployment, job vacancies, and employment …

high volatility of most of the key variables, the negative co-variation of unemployment and vacancies, and the behavior of …

, inflation and housing prices. Flows into both full and partial retirement increase significantly when the unemployment rate … retirement spells has been steadily increasing. We estimate the response of retirement timing to variations in unemployment rate … rises. Workers around normal retirement age are especially sensitive to variations in the unemployment rate. Workers who are …

counteract a steep increase in unemployment. We show that short-time work can actually save jobs. However, there is an important … component appears to be completely ineffective. In a case study for Germany, we use the rich data available to combine micro …

This paper offers a reappraisal of the inflation-unemployment tradeoff, based on "frictional growth" describing the … able to work themselves out fully. In this context, monetary shocks have a gradual and delayed effect on inflation, and … these shocks also generate plausible impulse-responses for unemployment. Although our theory contains no money illusion, no …