Rahn, Daniela and Weber, Enzo (2019) PATTERNS OF UNEMPLOYMENT DYNAMICS IN GERMANY. MACROECONOMIC DYNAMICS, 23 (1). pp. 322-357. ISSN 1365-1005, 1469-8056
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Using a structural vector autoregressive (SVAR) model, this paper provides deeper insight into unemployment dynamics in Germany. We identify a technology shock and two policy shocks that play a central role in business cycle research. Accordingly, we enrich the discussion on the sources of unemployment dynamics by considering demand-side impulses. The worker reallocation process varies substantially with the identified shocks. The job-finding rate plays a larger role after a technology shock and a monetary policy shock, whereas the separation rate appears to be the dominant margin after a fiscal policy shock. Technology shocks turn out to be relatively important for variations in the transition rates. Regarding policy shocks, our results point toward fiscal interventions as a promising instrument but with several limitations.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | LABOR-MARKET; TECHNOLOGY SHOCKS; BUSINESS-CYCLE; POLICY SHOCKS; WORKER FLOWS; SEARCH; TREND; Unemployment Dynamics; Transition Rates; SVAR; Policy Shocks |
| Subjects: | 300 Social sciences > 330 Economics |
| Divisions: | Business, Economics and Information Systems > Institut für Volkswirtschaftslehre und Ökonometrie Business, Economics and Information Systems > Institut für Volkswirtschaftslehre und Ökonometrie > Lehrstuhl für Empirische Wirtschaftsforschung, insbesondere Makroökonomie und Arbeitsmarkt (Prof. Dr. Enzo Weber) |
| Depositing User: | Dr. Gernot Deinzer |
| Date Deposited: | 21 Apr 2020 12:44 |
| Last Modified: | 21 Apr 2020 12:44 |
| URI: | https://pred.uni-regensburg.de/id/eprint/27841 |
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