Was Short-Time Work a Miracle Cure During the Great Recession? The Case of Germany and Italy
Fabio R. Aricò
affiliation not provided to SSRN
IMK (Macroeconomic Policy Institute) in the Hans-Boeckler-Foundation
Comparative Economic Studies, Vol. 54, Issue 2, pp. 275-297, 2012
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.
Number of Pages in PDF File: 23
Date posted: May 24, 2012