Macroeconomic Effects of Active Labour Market Policies: A Novel Instrumental Variables Approach
积极劳动市场政策的宏观效应:一种新的工具变量策略
This study evaluates the macroeconomic effects of active labour market policies (ALMP) in Germany over the period 2005 to 2018. We propose a novel identification strategy to overcome the simultaneity of ALMP and labour market outcomes at the regional level. It exploits the imperfect overlap of local labour markets and local employment agencies that decide on the local implementation of policies. Specifically, we instrument for the use of ALMP in a local labour market with…