This paper investigates the potential reasons for the surprisingly different labor market performance of the United States, Canada, Germany, and several other OECD countries during and after the Great Recession of 2008-09. Unemployment rates did not change substantially in Germany, increased and...

This paper investigates the potential reasons for the surprisingly different labor market performance of the United States, Canada, Germany, and several other OECD countries during and after the Great Recession of 2008-09. Unemployment rates did not change substantially in Germany, increased and...

The structural changes in the world economy have made themselves increasingly felt in the Federal Republic of Germany over the past few years. For the first time since 1965 there is again a current account deficit, since merchandise trade is no longer able, due to the worsened terms of trade, to...