https://www.imf.org/external/pubs/ft/wp/2015/wp15162.pdf https://www.imf.org/external/pubs/ft/wp/2015/wp15162.pdf "In 2003–05, Germany undertook extensive labo

https://www.imf.org/external/pubs/ft/wp/2015/wp15162.pdf https://www.imf.org/external/pubs/ft/wp/2015/wp15162.pdf "In 2003–05, Germany undertook extensive labor market reforms which were followed by a large and persistent decline in unemployment. Key elements of the reforms were a drastic cut in benefits for the long-term unemployed and tighter job search and acceptance obligations."