the generosity of unemployment benefits (UB) and short-time work. This paper aims to contribute to the theoretical … unemployment benefits and increasing search efforts, b) a fiscal stimulus and c) short-time work. In contrast to other studies that … from the heterogeneity of agents. I find four main results: 1) a) has nearly no effect on unemployment in the short run and …

prevent layoffs. Many OECD countries have used this policy in the Great Recession. This paper shows that the effects of short … in deep economic crises. The policy becomes more efficient as the recession deepens. In expansions, the effects are …

order to prevent layoffs and stabilize employment. Many OECD countries have used this policy in the Great Recession, for … efficient as the recession deepens. We disentangle discretionary short-time work from automatic stabilization in German data and …

This paper analyzes Germany's unusual labor market experience during the Great Recession. We estimate a general … driver for the "German labor market miracle" during the Great Recession. …

mainly driven via STW. US unemployment rose at an unprecedented rate, but unlike in previous recessions, it was mostly driven …

to the Great Recession. Cyclical working-time reductions are again a major factor in safeguarding employment. Whereas … during the Great Recession all working-time instruments contributed to the reduction in working time, short-time work (STW …

structural reforms that increase the flexibility of the labor market in recession and expansion. Our results for Germany and …