Hochmuth, Brigitte; Merkl, Christian; Stüber, Heiko - 2024
's tradable sector in the aftermath of the Hartz unemployment insurance reform based on firm-level data. Our quantitative model … matches a significant fraction of various macroeconomic trends after the reform, namely Germany's persistent increase of …, and the decline in unemployment. Conversely, Germany's wage moderation before the reform appears to be unrelated to most …