Germany: Selected Issues

November 11, 1997

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Format: Chicago

Germany: Selected Issues, (USA: International Monetary Fund, 1997) accessed December 22, 2024

Summary

This Selected Issues paper analyzes labor market asymmetries and macroeconomic adjustment in Germany. Empirical work reported shows that in Germany, negative demand shocks increase the unemployment rate by more than the decrease in the unemployment rate caused by a comparable-sized positive demand shock. The contribution of labor costs to explaining the high level of unemployment, particularly since unification, is studied. Empirical estimates are obtained for the wage gap—the deviation of actual labor costs from warranted labor costs based on estimated production functions assuming competitive factor markets and full employment.

Subject: Expenditure, Labor, Pension spending, Pensions, Personal income tax, Unemployment, Unemployment rate, Wage gap

Keywords: CR, Dispersion pattern, Eastern Europe, Enterprise, Europe, Global, ISCR, Labor market, Länder, Monetary policy, Pension spending, Pensions, Replacement rate, Unemployment, Unemployment rate, Wage gap, Wage-price mechanism

Publication Details

Pages:

167
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 1997/101
Stock No:

1DEUEA0011997
ISBN:

9781451810318
ISSN:

1934-7685

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