Unemployment in Interwar Germany: An Analysis of the Labor Market, 1927-1936.
This article contributes to the debate on the causes of unemployment in interwar Germany. It applies the Layard-Nickell model of the labor market to interwar data. The results indicate that demand shocks, combined with nominal inertia in the labor market, were important in explaining unemployment. R...
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| Format: | Journal article |
| Language: | English |
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Cambridge University Press
2006
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| _version_ | 1797058973646454784 |
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| author | Dimsdale, N Horsewood, N Riel, A |
| author_facet | Dimsdale, N Horsewood, N Riel, A |
| author_sort | Dimsdale, N |
| collection | OXFORD |
| description | This article contributes to the debate on the causes of unemployment in interwar Germany. It applies the Layard-Nickell model of the labor market to interwar data. The results indicate that demand shocks, combined with nominal inertia in the labor market, were important in explaining unemployment. Real wage pressures due to procedures for wage determination were a major influence on unemployment, but were partly offset by movements in other supply-side variables, such as the replacement ratio and the pricing policy of cartels. Demand- and supply-side variables were mutually reinforcing in the Great Depression and in the recovery under the Nazis. |
| first_indexed | 2024-03-06T19:57:38Z |
| format | Journal article |
| id | oxford-uuid:2630c4a8-575b-4869-a30e-771e832ac650 |
| institution | University of Oxford |
| language | English |
| last_indexed | 2024-03-06T19:57:38Z |
| publishDate | 2006 |
| publisher | Cambridge University Press |
| record_format | dspace |
| spelling | oxford-uuid:2630c4a8-575b-4869-a30e-771e832ac6502022-03-26T11:59:30ZUnemployment in Interwar Germany: An Analysis of the Labor Market, 1927-1936.Journal articlehttp://purl.org/coar/resource_type/c_dcae04bcuuid:2630c4a8-575b-4869-a30e-771e832ac650EnglishDepartment of Economics - ePrintsCambridge University Press2006Dimsdale, NHorsewood, NRiel, AThis article contributes to the debate on the causes of unemployment in interwar Germany. It applies the Layard-Nickell model of the labor market to interwar data. The results indicate that demand shocks, combined with nominal inertia in the labor market, were important in explaining unemployment. Real wage pressures due to procedures for wage determination were a major influence on unemployment, but were partly offset by movements in other supply-side variables, such as the replacement ratio and the pricing policy of cartels. Demand- and supply-side variables were mutually reinforcing in the Great Depression and in the recovery under the Nazis. |
| spellingShingle | Dimsdale, N Horsewood, N Riel, A Unemployment in Interwar Germany: An Analysis of the Labor Market, 1927-1936. |
| title | Unemployment in Interwar Germany: An Analysis of the Labor Market, 1927-1936. |
| title_full | Unemployment in Interwar Germany: An Analysis of the Labor Market, 1927-1936. |
| title_fullStr | Unemployment in Interwar Germany: An Analysis of the Labor Market, 1927-1936. |
| title_full_unstemmed | Unemployment in Interwar Germany: An Analysis of the Labor Market, 1927-1936. |
| title_short | Unemployment in Interwar Germany: An Analysis of the Labor Market, 1927-1936. |
| title_sort | unemployment in interwar germany an analysis of the labor market 1927 1936 |
| work_keys_str_mv | AT dimsdalen unemploymentininterwargermanyananalysisofthelabormarket19271936 AT horsewoodn unemploymentininterwargermanyananalysisofthelabormarket19271936 AT riela unemploymentininterwargermanyananalysisofthelabormarket19271936 |