期刊
EUROPEAN ECONOMIC REVIEW
卷 84, 期 -, 页码 99-122出版社
ELSEVIER
DOI: 10.1016/j.euroecorev.2015.05.007
关键词
Short-time work; Fiscal policy; Business cycles; Search and matching; SVAR
类别
资金
- Knut och Alice Wallenbergs stiftelse KAW [2011.0144]
- Fritz Thyssen Research Foundation
In the Great Recession most OECD countries used short-time work (publicly subsidized working time reductions) to counteract a steep increase in unemployment. We show that short-time work can actually save jobs. However, there is an important distinction to be made: while the rule-based component of short-time work is a cost-efficient job saver, the discretionary component is completely ineffective. In a case study for Germany, we use the rich data available to combine micro- and macroeconomic evidence with macroeconomic modeling in order to identify, quantify and interpret these two components of short-time work. (C) 2015 Elsevier B.V. All rights reserved.
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