G2TT
来源类型Discussion paper
规范类型论文
来源IDDP8520
DP8520 What Explains the German Labor Market Miracle in the Great Recession?
Michael Burda; Jennifer Hunt
发表日期2011-08-01
出版年2011
语种英语
摘要Germany experienced an even deeper fall in GDP in the Great Recession than the United States, with little employment loss. Employers? reticence to hire in the preceding expansion, associated in part with a lack of confidence it would last, contributed to an employment shortfall equivalent to 40 percent of the missing employment decline in the recession. Another 20 percent may be explained by wage moderation. A third important element was the widespread adoption of working time accounts, which permit employers to avoid overtime pay if hours per worker average to standard hours over a window of time. We find that this provided disincentives for employers to lay off workers in the downturn. Although the overall cuts in hours per worker were consistent with the severity of the Great Recession, reduction of working time account balances substituted for traditional government-sponsored short-time work.
主题International Macroeconomics ; Labour Economics
关键词Unemployment Germany Great recession Short time work Working time accounts Hartz reforms Extensive vs intensive employment margin
URLhttps://cepr.org/publications/dp8520
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/537354
推荐引用方式
GB/T 7714
Michael Burda,Jennifer Hunt. DP8520 What Explains the German Labor Market Miracle in the Great Recession?. 2011.
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