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There exists a persistent disagreement in the literature over the effect of business cycles on economic growth. This paper offers a solution to this disagreement, suggesting that volatility carries a positive direct effect, but also a negative indirect effect, operating through the insurance...
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to the Great Recession. Cyclical working-time reductions are again a major factor in safeguarding employment. Whereas …We analyse measures of internal flexibility taken to safeguard employment during the Coronavirus Crisis in comparison … during the Great Recession all working-time instruments contributed to the reduction in working time, short-time work (STW …
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