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 …

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

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

recessions. First, we show that the consumption risk of short-time work is considerably smaller compared to unemployment using … frictions featuring an endogenous firing and short-time work decision. In recessions, short-time work reduces the unemployment …

unemployment and output fluctuations. The central question is whether the rule based component (i.e., the existence of the … our baseline scenario the rule based component stabilizes unemployment fluctuations by 15% and output fluctuations by 7 … significant effect on unemployment. These effects are based on a structural VAR estimation which is identified using the output …

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

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