Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/237907
Authors: 
Herzog-Stein, Alexander
Nüß, Patrick
Peede, Lennert
Stein, Ulrike
Year of Publication: 
2021
Series/Report no.: 
IMK Working Paper No. 209
Publisher: 
Hans-Böckler-Stiftung, Institut für Makroökonomie und Konjunkturforschung (IMK), Düsseldorf
Abstract: 
We analyse measures of internal flexibility taken to safeguard employment during the Coronavirus Crisis in comparison to the Great Recession. Cyclical working-time reductions are again a major factor in safeguarding employment. Whereas during the Great Recession all working-time instruments contributed to the reduction in working time, short-time work now accounts for almost all of the working-time reduction. Short-time work was more rapidly extended, more generous, and for the first time a stronger focus was put on securing household income on a broad basis. Still, the current crisis is more severe and affects additional sectors of the economy where low-wage earners are affected more frequently by short-time work and suffered on average relatively greater earnings losses. A hypothetical average short-time worker had a relative income loss in April 2020 that was more than twice as large as that in May 2009. Furthermore, marginal employment is affected strongly but not protected by short-time work.
JEL: 
E24
E32
J08
J20
Creative Commons License: 
https://creativecommons.org/licenses/by/4.0/
Document Type: 
Working Paper

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