^The^ causes of German unemployment: a structural VAR approach

The unemployment evolution in Germany is characterized by the stepwise upward trend since the mid 1970s. Neither explanations based merely on rigid labor institutions nor those emphasize adverse macroeconomic shocks alone are able to give a convincing account of this odd unemployment development. With the help of Structural Vector AutoRegressive (SVAR) approach, this thesis aims at shedding more light on the role of macroeconomic shocks hitting the economy over time and their persistent effects due to structural rigidities in the labor market in accounting for the high unemployment. This work is novel in that full-hysteresis of the unemployment rate is assumed and price shocks is identified as further structural shocks. Due to the existence of hysteresis effects, macroeconomic shocks may have permanent effects and demand management policies (such as monetary or fiscal policies) may be very powerful even in the long-run.

Level thesis:degree_level

thesis.doctoral

Grantor dc:publisher

Universität Oldenburg

Year

2006

Author dc:creator

• Su, Li

• [Keine Schlagwörter von Autor/in vergeben.]

Repository record source_url

http://oops.uni-oldenburg.de/52

OAI identifier oai:identifier

oai:oops.uni-oldenburg.de:52