pillars of the model: sectoral collective bargaining and firm-level codetermination. Relative to the United States, Germany …-level distributional conflict. Relative to other European countries, Germany makes it easy for employers to avoid coverage or use … flexibility provisions to deviate downwards from collective agreements. The greater flexibility of the German system may reduce …

We use the COVID shock to study the direct and interactive effects of several forms of corporate flexibility on short …- and long-term real business plans. We find that i) workplace flexibility, namely the ability for employees to work … remotely, plays a central role in determining firms' employment plans during the health crisis; ii) investment flexibility …

seeks to preserve its financial flexibility by prudently managing its leverage and investment. Paradoxically, it is the high …