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

Arbeitspapier

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.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: Kiel Working Paper ; No. 1096

Classification and Topics

• Classification: Wirtschaft ; Multiple or Simultaneous Equation Models: Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models ; Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity ; History of Economic Thought: Macroeconomics
• Subject: Unemployment ; Phillips Curve ; Structural Vector Autoregressions ; Theorie der Arbeitslosigkeit ; Natürliche Arbeitslosigkeit ; Phillips-Kurve ; Keynesianismus ; Monetarismus ; Theorie ; Deutschland

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Gottschalk, Jan
• Event: Veröffentlichung
• (who): Kiel Institute of World Economics (IfW)
• (where): Kiel
• (when): 2002

Further information

• Handle: http://hdl.handle.net/10419/17751
• Last update: 10.03.2025, 11:43 AM CET