Burda, Michael C.; Sachs, Jeffrey D. - 2021
The sustained rise in German unemployment since 1973 poses a problem of critical importance for the world economy …. Fewer than two decades ago, Germany boasted an average unemployment rate of under 1% and imported labor to relieve chronic … labor shortages. By the mid-1980s, unemployment had risen to over 8 percent of the labor force. This paper investigates some …