We analyse the short term work (STW) regulations that several OECD countries introduced after the 2007 financial crisis. We view these measures as a collection of real options and study the dynamic effect of STW on the endogenous liquidation decision of the firm. While STW delays a firm's...

We analyse measures of internal flexibility taken to safeguard employment during the Coronavirus Crisis in comparison 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...

Paid family leave allows workers to take time off from work to care for a family member with a serious health condition, with reduced financial risk and increased job continuity. In 2004, California was the first state in the nation to implement a paid family leave program allowing workers to...

1. An introduction to work sharing : a strategy for preserving jobs, creating new employment and improving individual well-being / Jon C. Messenger and Naj Ghosheh -- 2. Work sharing as an alternative to layoffs : lessons from the German experience during the crisis / Lutz Bellmann ... [et al.]...

The consequences of the coronavirus (COVID-19) pandemic for the labour market are likely to be severe. Many firms are struggling to stay afloat during the often strict confinement measures, and large numbers of workers have already either been involved in various forms of short-time work schemes...

JobKeeper is a short‐time work subsidy implemented between March 2020 and March 2021 in Australia during the COVID‐19 pandemic to reinforce the resilience of the labour market. As a job retention (JR) program, JobKeeper supports businesses, protects jobs and employment relationships and...

France has the second largest population of countries in the EU. Since 2000, the French labor market has undergone substantial changes resulting from striking trends, some of which were catalyzed by the Great Recession and the Covid-19 crisis. The most interesting of these changes have been the...

Short-time work - a wage subsidy conditional on hour reductions - has become an important tool of labor market policy in many European countries. As the scope of these policies expanded, concerns about side effects due to adverse selection increased. We develop a model of job retention policies...