highest in Germany, followed by France, and Italy. However, even in Germany, the accommodation of a shock to unemployment by … changes in unemployment and income on the basis of regional panel data provided by Eurostat, the statistical office of the …

the hypothesis that a rigid wage structure has been responsible for rising low-skilled unemployment, I propose a …

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 … display that price, demand, and labor supply shocks affect unemployment significantly in the short/medium run. Interestingly …

-bank loans to be substitutes for bank loans with negative responses to a positive loan supply shock while trade credit is a …

After an expansionary monetary policy shock employment increases and unemployment falls. In standard New Keynesian … models the fall in aggregate unemployment does not affect employed workers at all. However, Lüchinger, Meier and Stutzer … (2010) found that the risk of unemployment negatively affects utility of employed workers: An increases in aggregate …

model is used to assess this development. In particular, estimation results for investment and employment adjustment after …