Is Germany the North Star of Labor Market Policy?

Rinne, Ulf; Zimmermann, Klaus F.

doi:10.1057/imfer.2013.21

Cited by 63 publications

(60 citation statements)

References 41 publications

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“…According to many commentators, a primary reason is massive labor hoarding by German companies (e.g., Dietz, Stops, and Walwei (2010), Balleer et al (2013), Rinne and Zimmermann (2013)). Important for our discussion, labor hoarding is heavily subsidized in Germany.…”

Section: Policy Implicationsmentioning

confidence: 99%

Firm Leverage, Consumer Demand, and Employment Losses During the Great Recession*

Giroud

Mueller

2016

The Quarterly Journal of Economics

281

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We argue that firms' balance sheets were instrumental in the propagation of consumer demand shocks during the Great Recession. Using establishment-level data, we show that establishments of more highly levered firms exhibit a significantly larger decline in employment in response to a drop in consumer demand. These results are not driven by firms being less productive, having expanded too much prior to the Great Recession, or being generally more sensitive to fluctuations in either aggregate employment or house prices. At the county level, we find that counties with more highly levered firms experience significantly larger job losses in response to county-wide consumer demand shocks. Thus, firms' balance sheets also matter for aggregate employment. Our research suggests a possible role for employment policies that target firms directly besides conventional stimulus.

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Section: Policy Implicationsmentioning

confidence: 99%

Firm Leverage, Consumer Demand, and Employment Losses During the Great Recession*

Giroud

Mueller

2016

The Quarterly Journal of Economics

281

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“…Rinne and Zimmermann (2013) argue that although, in general, it is not possible to directly replicate this success story, there are many features of the German model that other countries should closely investigate. For example, measures that increase the overall functioning of the labor market, e.g., only implementing ALMP measures that prove effective as well as improving the overall efficiency of public employment services, should be considered by other countries.…”

Section: Discussionmentioning

confidence: 99%

Youth unemployment in old Europe: the polar cases of France and Germany

et al. 2013

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France and Germany are two polar cases in the European debate about rising youth unemployment. Similar to what can be observed in Southern European countries, a "lost generation" may arise in France. In stark contrast, youth unemployment has been on continuous decline in Germany for many years, hardly affected by the Great Recession. This paper analyzes the diametrically opposed developments in the two countries to derive policy lessons. As the fundamental differences in youth unemployment primarily result from structural differences in labor policy and in the (vocational) education system, short-term oriented policies do not address the core of the problems. Ultimately, the youth unemployment disease in France and in other European countries has to be cured with structural reforms.JEL codes: J24; J38; J68

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“…Source: Based on In-plant alliances preserve jobs in Germany (%) [1]. In-plant alliances that allowed firms to deviate from sectoral collective wage agreements were especially powerful in avoiding dismissals.…”

Section: Key Findingsmentioning

confidence: 99%

Do in-plant alliances foster employment?

Bellmann¹

2014

izawol

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Is Germany the North Star of Labor Market Policy?

Cited by 63 publications

References 41 publications

Firm Leverage, Consumer Demand, and Employment Losses During the Great Recession*

Firm Leverage, Consumer Demand, and Employment Losses During the Great Recession*

Youth unemployment in old Europe: the polar cases of France and Germany

Do in-plant alliances foster employment?

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