Weniger Lohn, mehr Beschäftigung? Ein Standpunkt

In this paper an alternative view of the relation between the wage
level, wage dispersion, training incentives and employment is
presented. We provide some theoretical arguments which cast doubt
on the standard thesis that unemployment - especially in Germany -
is mainly caused by labor market institutions and excessive wages.
Rather there are several indications that a persistent lack of
demand is responsible for the major part of the German unemployment
problem.