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Government schemes that compensate workers for the loss of income while they are on short hours (known as short-time work compensation schemes) make it easier for employers to temporarily reduce hours worked so that labor is better matched to output requirements. Because the employers do not lay...
Persistent link: https://www.econbiz.de/10011413675
We provide evidence on the evolution of worker reallocation in Italy and Spain during the pandemic. In both countries, job-to-job transition rates fell in 2020 but improved in 2021 in aggregate. We then focus on cross-sectoral mobility following job separation. In Italy, we find a modest...
Persistent link: https://www.econbiz.de/10015055084
The Unemployment Insurance (UI) system in the United States has played a decisive lifeline role in effectively … before - despite that the average duration of unemployment had almost doubled in the aftermath of the Great Recession. The … introduce - for example in Europe - a common unemployment insurance scheme for macroeconomic stabilization. …
Persistent link: https://www.econbiz.de/10014414017
This paper presents an average treatment effect analysis of Spain’s furlough program during the onset of the COVID-19 pandemic. Using 2020 labour force quarterly microdata, we construct a counterfactual made of comparable nonfurloughed individuals who lost their jobs and apply propensity score...
Persistent link: https://www.econbiz.de/10014430027
Germany and the United States pursued different economic strategies to minimise the impact of the Coronavirus Crisis on … mainly driven via STW. US unemployment rose at an unprecedented rate, but unlike in previous recessions, it was mostly driven …
Persistent link: https://www.econbiz.de/10013368682
We study unemployment insurance in a framework where the main source of heterogeneity among agents is the type of … aggregate wealth moments. Our central finding is that changes to the current unemployment insurance program are valued … differently by married and single households. In particular, a more generous unemployment insurance reduces the welfare of married …
Persistent link: https://www.econbiz.de/10012202383
All developed economies have unemployment benefit programs to protect workers against major income losses during spells … of unemployment. By enabling unemployed workers to meet basic consumption needs, the programs protect workers from having … recessions. If benefits are too generous, however, the programs can lengthen unemployment and raise the unemployment rate. The …
Persistent link: https://www.econbiz.de/10011413806
Unemployment benefits often reduce incentives to search for a job. Policymakers have responded to this behaviour by … setting minimum job search requirements, by monitoring to check that unemployment benefit recipients are engaged in the … search monitoring and benefit sanctions reduce unemployment duration and increase job entry in the short term. There is some …
Persistent link: https://www.econbiz.de/10011417039
Unemployment increased drastically over the course of the Great Recession from 4.5 percent prior to the recession to 10 … percent at its peak in October 2009. Since then, the unemployment rate has come down steadily, and it stood at 5.8 percent in … November 2014. Based on existing analyses and some new evidence, this paper establishes that much of the change in unemployment …
Persistent link: https://www.econbiz.de/10011288771
and helps to preserve jobs in the context of a recession by making employment and unemployment less elastic with respect …
Persistent link: https://www.econbiz.de/10009770782