This paper studies short-time work arrangements (ERTEs) when aggregate risk is partially sector-specific. In Spain, the …. We show that ERTEs stabilize unemployment rates by allowing workers to remain with their employers in highly affected …

recessions allows for a more general discussion on the impact of adjustment frictions in the dual labor market and the effects … policy, in particular the short-time work policy (ERTE) in Spain. …

This paper studies short-time work arrangements (ERTEs) when aggregate risk is partially sector-specific. In Spain, the …. We show that ERTEs stabilize unemployment rates by allowing workers to remain with their employers in highly affected …

current institutions, past performance during recessions, and the policy measures adopted during the pandemic. Emphasis is …

this context, Spain is regarded as an extreme case, due to its exceptionally high youth unemployment rates. This article …Since the beginning of the recession period in Europe, unemployment has greatly affected the young adult population. In … with higher levels of unemployment and instability during the Great Recession than others. To do this, retrospective data …

-term unemployment rates, leading to the need to reform labour market institutions and make them more flexible. Flexible labour markets … employment and unemployment) but also to reduce the negative impacts on labour market of structural shocks. If we focus on the …, the countries with the best results in terms of unemployment and employment would have been those that had a more flexible …

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 …