This paper analyzes the dynamic effects of different macroeconomic shocks on unemployment in Germany. In a first step …, a cointegration analysis of productivity, prices, real wages, employment, and the unemployment rate reveals two long run … display that price, demand, and labor supply shocks affect unemployment significantly in the short/medium run. Interestingly …

This paper analyzes the dynamic effects of different macroeconomic shocks on unemployment in Germany. In a first step …, a cointegration analysis of productivity, prices, real wages, employment, and the unemployment rate reveals two long run … display that price, demand, and labor supply shocks affect unemployment significantly in the short/medium run. Interestingly …

1976. I find that regional wages decline between 1962 and 1968, before returning to their pre-shock level 15 years after …. While regional wages recovered, this particular supply shock had persistent distributional effects. By increasing the …

This paper examines how municipal taxes respond to the local impact of a labor market shock. The analysis exploits a …

second is a large exogenous shock to native workers' reserve option. Together these offer what is essentially a natural audit … positive outside it. Job-specific estimates of this kind are useful alongside more generalized evaluations of immigration … because immigration policy often regulates access to specific occupations. …

immigration shocks are well identified and are the dominant drivers of immigration dynamics. An exogenous immigration shock lowers …We propose a new VAR identification scheme that enables us to disentangle immigration shocks from other macroeconomic … availability of a quarterly series for net immigration is crucial to achieving identification. Notably, immigration is an …