cycle in Germany and in the United States. Previous research has found that, firstly, the extensive margin dominates and … Germany it is quite volatile over time. In general the intensive margin in Germany is more important than in the United States … Great Recession and the subsequent time period the intensive margin is dominant in Germany independent of the choice of the …

and Germany to condition the relationship between real wages and business fluctuations on the phase of the cycle, it is … general, the evidence for countercyclical wages is stronger in Germany than for the US, but taken together there is no clear …

measures for the United States, Germany, and the United Kingdom over the period 1980Q1 to 2018Q2. Employing Romer and Romer … extant literature. Furthermore, we estimate state-dependent elasticities. Our conclusions are as follows. (i) In Germany and …