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dc.contributor.authorBoeri, Titoen_US
dc.contributor.authorBrücker, Herberten_US
dc.date.accessioned2011-08-02en_US
dc.date.accessioned2011-11-23T11:44:48Z-
dc.date.available2011-11-23T11:44:48Z-
dc.date.issued2011en_US
dc.identifier.piurn:nbn:de:101:1-201104134380en_US
dc.identifier.urihttp://hdl.handle.net/10419/52126-
dc.description.abstractThe Great Recession triggered a resurgence of short-time work (STW) throughout the OECD. Several countries introduced from scratch STW or significantly expanded the scope of the programmes already in place. In some countries like Italy, Japan and Germany between 2.5 and 5 per cent of the workforce participated in short-time work schemes at the trough of the recession. In this paper we analyse the rationale for short time work benefits and their effects on labour adjustment from both a cross-country and a time-series perspective. We find that STW actually contributed to reduce job losses during the Great Recession. However, the number of jobs saved, according to our macroeconomic estimates, is smaller than the full-time equivalents jobs involved by these programmes, pointing in some cases to sizeable deadweight costs. Other institutions, like plant-level bargaining over hours, wages and employment levels may be more effective than STW in encouraging adjustment along the intensive margins in presence of temporary shocks. Our results also suggest that STW cannot be readily extended to countries having much different institutional configurations as the demand for STW is very much affected by other institutions such as employment protection legislation and the degree of centralization of collective bargaining. The micro evidence from firm-level data in Germany is more encouraging as to the effectiveness of STW, pointing to rather moderate deadweight losses. We interpret this result as due to specific design features of the German STW that could make it more effective in addressing the moral hazard problems related to reliance on subsidised hour reductions. The German Kurzarbeit scheme is indeed discouraging 100 per cent hours reductions and is experience-rated.en_US
dc.language.isoengen_US
dc.publisherIZA Bonnen_US
dc.relation.ispartofseriesDiscussion paper series // Forschungsinstitut zur Zukunft der Arbeit 5635en_US
dc.subject.jelJ63en_US
dc.subject.jelJ65en_US
dc.subject.ddc330en_US
dc.subject.keywordintensive marginen_US
dc.subject.keywordshort-timeen_US
dc.subject.stwUnterbeschäftigungen_US
dc.subject.stwLohnersatzleistungenen_US
dc.subject.stwArbeitsmarktpolitiken_US
dc.subject.stwWirkungsanalyseen_US
dc.subject.stwArbeitsmarkten_US
dc.subject.stwWirtschaftliche Anpassungen_US
dc.subject.stwKonjunkturen_US
dc.subject.stwWirtschaftskriseen_US
dc.subject.stwDeutschlanden_US
dc.subject.stwOECD-Staatenen_US
dc.titleShort-time work benefits revisited: Some lessons from the Great Recessionen_US
dc.typeWorking Paperen_US
dc.identifier.ppn66530885Xen_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
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