Krebs, Tom; Scheffel, Martin - 2010
of labor market reform on unemployment, growth, and welfare. The model has a large number of risk-averse households who … can invest in risk-free physical capital and risky human capital. Unemployed households receive unemployment benefits and … macroeconomic effects of the German labor market reforms of 2005 and 2006 (Hartz Reforms). We find that the 2005-reform had large …
