endogenous firing as well as a short-time work decision. In recessions, short-time work reduces the unemployment risk of workers …

recessions. First, we show that the consumption risk of short-time work is considerably smaller compared to unemployment using … risk of workers, which mitigates their precautionary savings motive. Using a quantitative model analysis, we show that this …

's hyperinflation and three high-inflation countries. Towards the peak of Weimar's hyperinflation the costs are estimated to have been …We explore the welfare costs of inflation originating from lack of liquidity satiation for Weimar Republic … equal to nearly 20 per cent of income. For Israel, Mexico, and Argentina the costs had been materially lower, but still in …

's hyperinflation and three high-inflation countries. Towards the peak of Weimar's hyperinflation the costs are estimated to have been …We explore the welfare costs of inflation originating from lack of liquidity satiation for Weimar Republic … equal to nearly 20 per cent of income. For Israel, Mexico, and Argentina the costs had been materially lower, but still in …