Counteracting Unemployment in Crises: Non‐Linear Effects of Short‐Time Work Policy

Short‐time work (STW) is a labor‐market policy that subsidizes working‐time reductions among firms in financial difficulty to prevent lay‐offs. Many OECD countries have used this policy in the Great Recession. In this paper, we show that the effects of STW are strongly time‐dependent and non‐linear...

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Volume: 123
Main Author: Gehrke, Britta
Hochmuth, Brigitte
Format: Journal Article
Language: English
Zielgruppe: Trade
Place of publication: HOBOKEN WILEY 01.01.2021
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published in: The Scandinavian journal of economics Vol. 123; no. 1; pp. 144 - 183
Data of publication: January 2021
ISSN: 0347-0520
EISSN: 1467-9442
Discipline: Economics
Bibliography: Also affiliated with the Institute for Employment Research (IAB) in Nürnberg, and the Institute for the Study of Labor (IZA) in Bonn.
We thank Heather Anderson, Hilde C. Bjørnland, Marcelle Chauvet, Nicolas Groshenny, Britta Kohlbrecher, Keith Kuester, Ben Lochner, Christian Merkl, Gernot Müller, Céline Poilly, Felix Schröter, Irina Panovska, Giovanni Pellegrino, Enzo Weber, two anonymous referees, and participants at the annual meetings of the Austrian and the German Economic Association, AK Young Economists Conference 2016 in Vienna, EEA 2017 in Lisbon, GradAB PhD Workshop in Nuremberg 2017, IAAE 2017 in Sapporo, ifo Dresden Workshop Makroökonomik und Konjunktur 2017, Lindau Nobel Laureates Meeting 2017, Macroeconometric Workshop at DIW Berlin 2016, SNDE 2018 in Tokyo, Spring Meeting of Young Economists in Halle (Saale), T2M – Theories and Methods in Macroeconomics in Lisbon and at seminars at the ifo Institute Munich, the Schumpeterseminar at Humboldt, the University of Adelaide, Cardiff, and Queensland for valuable comments. We are grateful for financial support from the Fritz Thyssen Research Foundation and for a travel grant to the IAAE 2017 meeting in Sapporo sponsored by the International Association for Applied Econometrics.
Also affiliated with the Institute for Advanced Studies, Vienna.
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