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Titel
When short-time work works / Pierre Cahuc (CREST-ENSAE, Ecole Polytechnique, CEPR and IZA), Francis Kramarz (CREST-ENSAE, CEPR and IZA), Sandra Nevoux (Banque de France) ; IZA Institute of Labor Economics
VerfasserCahuc, Pierre ; Kramarz, Francis ; Nevoux, Sandra
KörperschaftForschungsinstitut zur Zukunft der Arbeit
ErschienenBonn, Germany : IZA Institute of Labor Economics, July 2018
Ausgabe
Elektronische Ressource
Umfang1 Online-Ressource (64 Seiten)
SerieDiscussion paper ; no. 11673
URNurn:nbn:de:hbz:5:2-161424 
Zugänglichkeit
 Das Dokument ist öffentlich zugänglich im Rahmen des deutschen Urheberrechts.
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When short-time work works [0.57 mb]
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Zusammenfassung

Short-time work programs were revived by the Great Recession. To understand their operating mechanisms, we first provide a model showing that short-time work may save jobs in firms hit by strong negative revenue shocks, but not in less severely-hit firms, where hours worked are reduced, without saving jobs. The cost of saving jobs is low because shorttime work targets those at risk of being destroyed. Using extremely detailed data on the administration of the program covering the universe of French establishments, we devise a causal identification strategy based on the geography of the program that demonstrates that short-time work saved jobs in firms faced with large drops in their revenues during the Great Recession, in particular when highly levered, but only in these firms. The measured cost per saved job is shown to be very low relative to that of other employment policies.