have boosted German competitiveness, resulting in higher exports, higher production and lower unemployment. This … explains the gains in competitiveness but increases unemployment and inequality, and the subsequent labour market reforms lower … unemployment by lessening the reservation wage and expanding the non-tradable sector. The model replicates the developments of the …

a convincing explanation for the unemployment problem. The structuralist model emerged from these research efforts as … between changes in inflation and deviations of unemployment from the long-run equilibrium, this approach carries on where the … standard structuralist model the demand side has a negligible influence on unemployment in the medium run, we show that …