The years since the early 1970s are unprecedented in terms of the volatility in the prices of commodities, currencies, real estate and stocks, and the frequency and severity of financial crises (Kindleberger and Aliber).
Many authors have already studied about reasons of the origin of financial crises and their impact on the economy concerned, since financial crises, in particular global ones and especially the current one affect all economic factors significantly. The economic growth slows down or even turns into a recession due to decreasing investments, affected by a significantly lower liquidity of companies and investors. All these factors also affect the GDP and the labour market of the economy concerned, in this case Germany, which economy has turned into a recession in February 2009.
The subject of this paper has been chosen due to the present global relevance of the impact of a financial crisis on the labour market. The topic in particular has been chosen due to the fact that it is of worldwide relevance since the outbreak of the crisis analysed occurred on an unexpected scale, more precisely the worst of its kind since the Great Depression in the 1930s.
The focus of this paper lies on the analysis of the current crisis in terms of the impact on the German labour market.
Inhaltsverzeichnis (Table of Contents)
- Introduction
- Problem Definition and Objectives
- Theoretical Foundations
- Unemployment
- Efficient Market Hypothesis and Behavioural Finance
- Theoretical Discussion
- The German labour market
- Origins and anatomy of financial crises
- Practical Examination on the Impact of the current Financial Crisis on the German Labour Market
- Quantitative Examination
- Impact on the real economy
- Unemployment and Short-Time Work Development
- Qualitative Examination
- General Forecasts in the Media
- Interpretation of Results of Interviews
- Conclusion
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This paper explores the impact of the global financial crisis on the German labour market, emphasizing the crisis's unprecedented scale and severity, particularly since the Great Depression. The paper investigates the theoretical foundations of unemployment and financial crises, examines the German labour market's specific characteristics, and delves into the practical implications of the crisis, including its quantitative and qualitative effects on the German economy.
- Impact of the global financial crisis on the German labour market
- Theoretical foundations of unemployment and financial crises
- Analysis of the German labour market's characteristics
- Quantitative and qualitative effects of the crisis on the German economy
- Examination of the crisis's impact on unemployment and short-time work development
Zusammenfassung der Kapitel (Chapter Summaries)
The introduction lays out the problem definition and objectives of the paper, highlighting the global relevance of the current financial crisis and its impact on labour markets. The theoretical foundations chapter delves into concepts of unemployment and the Efficient Market Hypothesis, offering a framework for understanding the dynamics of financial crises. The theoretical discussion chapter then focuses specifically on the German labour market and the origins and anatomy of financial crises, providing context for the subsequent practical examination. The practical examination chapter explores the quantitative impact of the crisis on the real economy and unemployment, examining data on short-time work development. The chapter also delves into the qualitative impact of the crisis through media forecasts and interpretations of interviews conducted for the study.
Schlüsselwörter (Keywords)
This paper explores the impact of the global financial crisis on the German labour market, focusing on the crisis's origins, impact on the real economy, unemployment, short-time work development, and qualitative analysis through media forecasts and interviews. Key concepts include the Efficient Market Hypothesis, financial crises, economic recession, German labour market, unemployment, short-time work, quantitative and qualitative analysis, and media interpretations.
- Quote paper
- Benjamin Schmitt (Author), 2009, The impact of the current financial crisis on the German labour market, Munich, GRIN Verlag, https://www.grin.com/document/300325
