Germany experienced an even deeper fall in GDP in the Great Recession than the United States, with little employment loss. Employers’ reticence to hire in the preceding expansion, associated in part with a lack of confidence it would last, contributed to an employment shortfall equivalent to...

This paper analyzes some of the consequences of economic and monetary union of the two Germanies. Particular emphasis is given to the real implications for the supply side of the German Democratic Republic and for resource flows between two economic regions.

The rapid wage increases observed in Eastern Germany over the past two years have important implications for the direction taken by structural change in this region. These implications are not solely negative, and remain controversial in the public debate. This paper discusses four aspects of a...

The distribution of job satisfaction widened across cohorts of young men in the United States between 1978 and 1988, and between 1978 and 1996, in ways correlated with changing wage inequality. Satisfaction among workers in upper earnings quantiles rose relative to that of workers in lower...