Using a model with constant relative risk-aversion preferences, endogenous labor supply and partial insurance against … cost associated with missing insurance markets. On the other hand, greater wage dispersion presents opportunities to raise …

offers insurance against adverse investment outcomes. The model provides support for the conventional wisdom that the young …

, by investing in capital markets investors provide insurance to wage earners who then optimally choose not to participate …

In 1988, the wage distribution in East Germany was much more compressed than in West Germany or the U.S. Since the … collapse of Communism and unification with West Germany, however, the wage structure in eastern Germany has changed … Germany, individual variation in wage growth is similar to typical western levels. The wage structure of former East Germans …

States, Canada, Germany, and several other OECD countries during and after the Great Recession of 2008-09. Unemployment rates … did not change substantially in Germany, increased and remained at relatively high levels in the United States, and … increased moderately in Canada. More recent data also show that, unlike Germany and Canada, the U.S. unemployment rate remains …

Germany experienced an even deeper fall in GDP in the Great Recession than the United States, with little employment …

focuses on three large Continental European countries: France, Germany, and Italy. These countries have large pay …

price and wage rigidities to study four countries (the U.S., the U.K., Sweden, and Germany) during the financial crisis and … factors were also important in the U.K., but less so in Sweden and Germany. Reduced matching efficiency was considerably less … important in the U.K. and Sweden than in the U.S., but matching efficiency improved in Germany, helping to keep unemployment low …