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Using firm-level and individual panel data from 2008-2009, the paper looks at how Hungarian firms combined employment reduction with "softer" measures like short-work and wage cuts, in response to the crisis. The data suggest that the wage distribution remained practically unchanged while hours...
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the transition, up until the shock is fully absorbed. Viability is a function of the speed of job destruction and the … during the transition. Within the realm of feasible scenarios unemployment differentials are basically determined by the …
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