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240607 ||| eng |
| 020 |
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|a 9781513596174
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| 100 |
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|a Aiyar, Shekhar
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| 245 |
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|a The Effectiveness of Job-Retention Schemes: COVID-19 Evidence From the German States
|c Shekhar Aiyar, Mai Dao
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| 260 |
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|a Washington, D.C.
|b International Monetary Fund
|c 2021
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| 300 |
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|a 37 pages
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| 651 |
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4 |
|a Germany
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| 653 |
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|a Economic growth
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| 653 |
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|a Economic & financial crises & disasters
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| 653 |
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|a Macroeconomics
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| 653 |
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|a Manpower policy
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| 653 |
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|a Labor demand
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| 653 |
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|a Communicable diseases
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| 653 |
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|a Economics
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| 653 |
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|a Wages
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| 653 |
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|a Labor
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| 653 |
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|a Covid-19
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| 653 |
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|a Employment
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| 653 |
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|a Aggregate Human Capital
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| 653 |
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|a Informal sector
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| 653 |
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|a Labor Demand
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| 653 |
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|a Aggregate Labor Productivity
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| 653 |
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|a Mobility, Unemployment, and Vacancies: General
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| 653 |
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|a Diseases: Contagious
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| 653 |
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|a Intergenerational Income Distribution
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| 653 |
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|a Labor markets
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| 653 |
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|a Health Behavior
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| 653 |
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|a Unemployment
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| 653 |
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|a Wages, Compensation, and Labor Costs: Public Policy
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| 653 |
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|a Unemployment: Models, Duration, Incidence, and Job Search
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| 653 |
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|a Income economics
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| 653 |
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|a Mobility, Unemployment, and Vacancies: Public Policy
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| 653 |
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|a Infectious & contagious diseases
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| 653 |
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|a Economics: General
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| 653 |
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|a Currency crises
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| 653 |
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|a Health
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| 653 |
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|a Labor market
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| 653 |
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|a Economic theory
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| 653 |
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|a Labour
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| 653 |
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|a Economics of specific sectors
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| 653 |
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|a Demand and Supply of Labor: General
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| 653 |
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|a Labor Economics Policies
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| 700 |
1 |
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|a Dao, Mai
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| 041 |
0 |
7 |
|a eng
|2 ISO 639-2
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| 989 |
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|b IMF
|a International Monetary Fund
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| 490 |
0 |
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|a IMF Working Papers
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| 028 |
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|a 10.5089/9781513596174.001
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| 856 |
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|u https://elibrary.imf.org/view/journals/001/2021/242/001.2021.issue-242-en.xml?cid=474182-com-dsp-marc
|x Verlag
|3 Volltext
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| 082 |
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|a 330
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| 520 |
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|a Kurzarbeit (KA), Germany's short-time work program, is widely credited with saving jobs and supporting domestic demand during the COVID-19 recession. We quantify the impact by exploiting state-level variation in exposure to the pandemic shock and KA take-up. We construct a shift-share measure of the labor demand shock and instrument KA take-up using the pre-existing, state-specific share of workers eligible for KA. We find, first, that KA was crucial in mitigating unemployment: absent its expansion the unemployment rate would have increased by an additional 3 pp on average at the trough of the recession. Second, KA also bolstered domestic demand: the contraction in consumption could have been 2 to 3 times larger absent the program. Finally, we provide preliminary evidence on the sensitivity of the medium-run reallocation of resources to the prevalence of jobretention schemes during the Global Financial Crisis
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