Another economic miracle?: the German labor market and the Great Recession

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Permanent URL for this page: http://hdl.voced.edu.au/10707/238760.


Author: Rinne, Ulf; Zimmermann, Klaus F.

Abstract:

Germany's labor market responded only mildly to the Great Recession. Important factors for this development include the strong economic position due to recent labor market reforms, the crisis affecting mainly export-oriented companies, the extension of short-time work, time buffers due to working time accounts, the behavior of social partners, and automatic stabilizers. We emphasize the important interaction between short-time work and long-term shortages of skilled workers in sectors particularly affected by the crisis. Although Germany's experience is in stark contrast to the United States, we identify and discuss common challenges at the center of the future jobs debate.

Published abstract.

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Germany's labor market responded only mildly to the Great Recession. Important factors for this development include the strong economic position due to recent labor market reforms, the crisis affecting mainly export-oriented companies, the extension of short-time work, time buffers due to working time accounts, the behavior of social partners, and automatic stabilizers. We emphasize the important interaction between short-time work and long-term shortages of skilled workers in sectors particularly affected by the crisis. Although Germany's experience is in stark contrast to ...  [+] Show more

Subjects: Labour market; Economics; Employment; Policy

Keywords: Economic conditions; Economic recession; Skilled worker; Labour shortage; Unemployment; Employment policy

Geographic subjects: Germany; Europe

Published: Heidelberg, Germany: Springer Verlag, 2012

Access item:
http://dx.doi.org/10.1186/2193-9004-1-3

Journal title: IZA journal of labor policy

Journal volume : 1

Journal number: 3

Journal date: October 2012

Pages: pp. 1-21

ISSN: 2193-9004 (online)

Resource type: Article

Peer reviewed: Yes

Rights:
This is an Open Access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. To view a copy of the licence visit: http://creativecommons.org/licenses/by/2.0

Call Number:
TD/TNC 111.150



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