"This paper studies the patterns of unemployment dynamics in Germany. To provide a deeper insight into the margins of unemployment adjustment, we employ a structural VAR model and identify the effects of a technology shock as well as two policy shocks. We find that the worker reallocation...

"This paper investigates the time-varying relationship between German output and employment growth, in particular their decoupling in recent years. We estimate a correlated unobserved components model that allows for both persistent and cyclical time variation in the employment impact of GDP as...

This paper studies the conditional patterns of unemployment dynamics in Germany. We employ a structural VAR model and identify a technology shock and two policy shocks by using standard restrictions. Interestingly, the worker reallocation process varies substantially with the identified shocks....

We construct a new Markov-switching unobserved components framework for the analysis of hysteresis effects. Our model unifies the ingredients of trend-cycle decomposition, identification of spillovers between the components and asymmetry over the business cycle. Employing the model for Germany...

This paper studies the conditional patterns of unemployment dynamics in Germany. We employ a structural VAR model and identify a technology shock and two policy shocks by using standard restrictions. Interestingly, the worker reallocation process varies substantially with the identified shocks....

This paper investigates the time-varying relationship between German output and employment growth, in particular their decoupling in recent years. We estimate a correlated unobserved components model that allows for persistent and cyclical time variation in the employment-GDP linkage as well as...