Working Paper

The Phillips Curve and NAIRU Revisited: New Estimates for Germany

Kiel Working Papers, 1344

Starting in 2006 the German economy currently experiences a cyclical revival which spreads to the labor market. Unemployment decreases markedly and regular employment rises. At present, virtually all professional forecasts expect this upswing to continue in the foreseeable future.


Bernd Fitzenberger
Wolfgang Franz
Oliver Bde


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