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We use firm-level survey data from 25 EU countries to analyse how firms adjust their labour costs (employment, wages … response to positive shocks in 2010-13, firms were more likely to increase wages, followed by increases in employment and then … likely to reduce employment, then hourly wages and then hours worked, regardless of the source of the shock. Results for the …
Persistent link: https://www.econbiz.de/10011997513
Using firm-level data from a large-scale European survey among 20 countries, we analyse the determinants of firms using … short-time work (STW). We show that firms are more likely to use STW in case of negative demand shocks. We show that STW … schemes are more likely to be used by firms with high degrees of firm-specific human capital, high firing costs, and operating …
Persistent link: https://www.econbiz.de/10011959218
Identifying fiscal multipliers is usually constrained by the absence of a counterfactual scenario. Our new data set allows overcoming this problem by making use of the fact that recommendations under the EU's excessive deficit procedure (EDP) provide both a baseline no-policy-change scenario and...
Persistent link: https://www.econbiz.de/10011856496
The literature on fiscal multipliers finds that spending-based fiscal consolidations tend to have more benign macro-economic consequences than revenue-based consolidations. By directly comparing ex-post data with consolidation plans, we present evidence of a systematically weaker follow-up of...
Persistent link: https://www.econbiz.de/10011904377
We exploit homogeneous firm level data of manufacturing and non-manufacturing sectors to study the impact of firing restrictions on job flow dynamics across 14 European countries. We find that more stringent firing laws dampen the response of job destruction to the cycle, thus making job...
Persistent link: https://www.econbiz.de/10003310809
-section, or when broken down by firms' s ize. We then examine whether mismatch unemployment has risen as a result of the pandemic …
Persistent link: https://www.econbiz.de/10013332899
Luxembourg firms during the years of economic and financial crisis (2008-09) and the subsequent European sovereign debt crisis … (2010-13). About 34% of Luxembourg firms used ALMPs between 2008 and 2013. Economy-wide, use of ALMPs increased along both … the extensive margin (more firms) and the intensive margin (more measures per firm). The likelihood that a firm hired with …
Persistent link: https://www.econbiz.de/10011668131
We show that financial variables contribute to the forecast of GDP growth during the Great Recession, providing additional insights on both first and higher moments of the GDP growth distribution. If a recession is due to an unforeseen shock (such as the Covid-19 recession), financial variables...
Persistent link: https://www.econbiz.de/10012241245
which key variables affecting household income and wealth are included, such as the unemployment rate, wages, interest rates …
Persistent link: https://www.econbiz.de/10011921470
Persistent link: https://www.econbiz.de/10009765957