Almost all institutions – employment protection legislation, unions, wages, wage structure, unemployment insurance, etc … persistent unemployment in Europe. US labor market institutions, assumed to leave markets unfettered, became the benchmark for … unemployment has shielded away from the policy of central banks. Actually, however, the institutional setup regarding monetary …

; equilibrium unemployment ; inflation target ; Phillips curve ; Lucas critique ; Germany …

After the Hartz reforms of 2003-2005, unemployment in Germany has gone down significantly. Using a structural … less than 0.1 percentage point of the decline in the observed unemployment rate. A substantial degree of influence, to the … contrary, is attributed to the preceding Hartz III reform. Thus, the reduction of unemployment compensation could have been …

Important explanation factors for the development of the rate of unemployment are labour market institutions. This … by three aspects: 1) We do not use the actual rate of unemployment or averages about several years, but her trend … component. 2) We use a long estimation period from 1960 to 2000 what guarantees enough variation of the institutions within the …