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Was Short-Time Work a Miracle Cure During the Great Recession? The Case of Germany and Italy

23 Pages Posted: 24 May 2012  

Fabio R. Aricò

affiliation not provided to SSRN

Ulrike Stein

IMK (Macroeconomic Policy Institute) in the Hans-Boeckler-Foundation

Date Written: June 2012

Abstract

This paper considers the use of short-time work (STW) schemes as a device to mitigate the negative effects of the current global recession on employment levels. STW schemes have been regarded as a popular and successful counter-cyclical policy to maintain workers in employment. However, by comparing and contrasting the experience of Germany and Italy, we argue that the effectiveness of STW schemes should only be evaluated in relation to (i) the institutional set-up within which they operate, and (ii) the whole set of labour market policies adopted by each country.

Suggested Citation

Aricò, Fabio R. and Stein, Ulrike, Was Short-Time Work a Miracle Cure During the Great Recession? The Case of Germany and Italy (June 2012). Comparative Economic Studies, Vol. 54, Issue 2, pp. 275-297, 2012. Available at SSRN: https://ssrn.com/abstract=2065694 or http://dx.doi.org/10.1057/ces.2012.10

Fabio R. Aricò (Contact Author)

affiliation not provided to SSRN

No Address Available

Ulrike Stein

IMK (Macroeconomic Policy Institute) in the Hans-Boeckler-Foundation ( email )

Hans-Boeckler-Str. 39
Duesseldorf, 40476
Germany

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