Resource title

Keynesian and monetarist views on the German unemployment problem : theory and evidence

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Resource description

Persistently high unemployment rates in Germany have led to a long-running controversy on the causes of the unemployment problem. This paper aims to re­view the contribution of Keynesian and monetarist theories to this controversy and explores empirically their implications for the explanation of high un­em­ploy­ment in Germany using a structural vector regression approach. In addition, this paper discusses the so-called wage gap which plays an important role in the debate whether the German unemployment problem is a real wage problem. Even though this paper cannot hope to settle the unemployment controversy, it nevertheless shows why a consensus has remained elusive.

Resource author

Jan Gottschalk

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Resource publish date

Resource language

eng

Resource content type

text/html

Resource resource URL

http://hdl.handle.net/10419/17751

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Adapt according to the presented license agreement and reference the original author.