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Autoren: 
Balleer, Almut
Gehrke, Britta
Lechthaler, Wolfgang
Merkl, Christian
Datum: 
2014
Reihe/Nr.: 
CESifo Working Paper 4640
Zusammenfassung: 
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 appears to be 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.
Schlagwörter: 
short-time work
fiscal policy
business cycles
search-and-matching
SVAR
JEL: 
E24
E32
E62
J08
J63
Dokumentart: 
Working Paper

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