01653cas a2200241 a 4500 AALejournalIMF000502 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451810318 1934-7685 BD-DhAAL BD-DhAAL International Monetary Fund. Germany : Selected Issues. Washington, D.C. : International Monetary Fund, 1997. 1 online resource (167 pages) IMF Staff Country Reports <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This Selected Issues paper analyzes labor market asymmetries and macroeconomic adjustment in Germany. Empirical work reported shows that in Germany, negative demand shocks increase the unemployment rate by more than the decrease in the unemployment rate caused by a comparable-sized positive demand shock. The contribution of labor costs to explaining the high level of unemployment, particularly since unification, is studied. Empirical estimates are obtained for the wage gap-the deviation of actual labor costs from warranted labor costs based on estimated production functions assuming competitive factor markets and full employment. Mode of access: Internet IMF Staff Country Reports; Country Report ; No. 1997/101 Full text available on IMF http://elibrary.imf.org/view/journals/002/1997/101/002.1997.issue-101-en.xml IMF e-Library