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margin since it is driven by flows from permanent wage employment to unemployment. We also show that older, non-Latvian and …
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, Japan and Germany between 2.5 and 5 per cent of the workforce participated in short-time work schemes at the trough of the … Germany is more encouraging as to the effectiveness of STW, pointing to rather moderate deadweight losses. We interpret this …
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models Germany and Japan. This reversal in relative economic performance might be related to idiosyncracies in financial … markets with bank-based financial markets as in Germany and Japan being possibly inferior to stock-market based financial …
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