Gehrke, Britta; Lechthaler, Wolfgang; Merkl, Christian - 2018
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 …