. We show that ERTEs stabilize unemployment rates by allowing workers to remain with their employers in highly affected …

endogenous firing as well as a short-time work decision. In recessions, short-time work reduces the unemployment risk of workers … replacement rate can be more effective compared to an increase of the unemployment benefit replacement rate. …

institutions (short-time work, government spending rules) and shocks (aggregate, labor market, and policy shocks) and to perform …

counteract a steep increase in unemployment. We show that short-time work can actually save jobs. However, there is an important …

the key driver of the unusually small increase in German unemployment in the Great Recession. …

the financial market, we address two prominent mechanism through which firms' financial constraints amplify unemployment … substantial decline in both unemployment and wages. Financial constraints therefore weaken the direct link between wage rigidity … and unemployment volatility. …

labor market institutions are similar and their unemployment rates just before the crisis were both around 8%. Yet, in …This paper analyzes the strikingly different response of unemployment to the Great Recession in France and Spain. Their … France, unemployment rate has increased by 2 percentage points, whereas in Spain it has shot up to 19% by the end of 2009. We …

EPL varying among workers of different skills on the level and composition of unemployment, job flows, productivity and …