in Germany. Our findings are consistent with a stable demand for labor, especially in western Germany, implying that …

Seit ihrem Höhepunkt im Februar 2005 sank die Arbeitslosigkeit in Deutschland innerhalb von drei Jahren von 5 …The number of unemployed workers in Germany decreased dramatically from its peak in February 2005 at over 5.2 million … this episode assume that a worker leaving unemployment moves into full employment. We ask where the unemployed actually …

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 …