density function with higher density and thereby generate large, asymmetric job-finding rate and unemployment reactions. Our …

reduced the generosity of long-term unemployment benefits. We use a model with different unemployment durations, where the … the existing disagreement in the macroeconomic literature on the unemployment effects of Hartz IV. We find that Hartz IV … was a major driver for the decline of Germany's unemployment and that partial and equilibrium effect where of equal …

institutions (short-time work, government spending rules) and shocks (aggregate, labor market, and policy shocks) and to perform …

. We use a New Keynesian model with unemployment to predict the effects of different labor market institutions on …This paper analyzes the effects of different labor market institutions on inflation and output volatility. The eurozone … theory. While labor market institutions have a large effect on output volatility, they do not seem to have much of an effect …

restructuring of the Federal Employment Agency in Germany (Hartz III labor market reform) for aggregate matching and unemployment … Employment Agency did not contribute to the decline of unemployment in Germany. By contrast, improved activation of unemployed …