retirement years and find that, on average, employed people maintain their life satisfaction upon retirement, while long …

This paper discusses the reasons for the dismal labor market performance of Germany over the last three decades along … play an important role in explaining the lackluster German economic performance of which rising unemployment is only one …

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 …