On top of the sovereign debt crisis in the European Union, demographic change is exerting enormous pressure on public finances. We analyse four policy options: lowering pension benefits, increasing labour market participation of the native population, immigration and participation of older...

This paper studies short-time work arrangements (ERTEs) when aggregate risk is partially sector-specific. In Spain, the Great Recession and the pandemic recession (aka the Great Contagion) can both be understood as being driven partially by large sector-specific shocks. However, the latter shows...

The current global economic crisis has led to greater prominence for the issue of strengthening social protection systems in Asia. This paper analyzes the key factors determining and the possible avenues for strengthening social protection systems in Asia. The choice of an appropriate...

Corona-Pandemie und Ukraine-Krieg markieren auch für den deutschen Arbeitsmarkt eine Zäsur. Diese Krisen sind Beschleuniger für bereits länger wirkende transformative Kräfte, wie Digitalisierung und Dekarbonisierung, und dürften die internationale Arbeitsteilung und Mobilität nachhaltig...