The paper deals with the deterioration of human capital during spells of unemployment. In our model the probability of leaving the unemployment pool decreases with the duration of unemployment. It can be shown that with a linear deterioration function and a simple distribution function for the...

"This paper aims at analyzing the astonishingly mild response of the German labor market to the severe demand shock that occurred in the aftermath of the financial crisis. It stresses the role of institutions such as working-time accounts which create a large scope for a buffering capacity...

This paper aims at analyzing the astonishingly mild response of the German labor market to the severe demand shock that occurred in the aftermath of the financial crisis. It stresses the role of institutions such as working-time accounts which create a large scope for a buffering capacity within...

"This paper aims at analyzing the astonishingly mild response of the German labor market to the severe demand shock that occurred in the aftermath of the financial crisis. It stresses the role of institutions such as working-time accounts which create a large scope for a buffering capacity...