Job Retention Schemes Between the Great Recession and the COVID-19 Crises PDF Download

Author: Francesco Corti
Publisher:
ISBN:
Category :
Languages : en
Pages : 0

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Author: Mr. Shekhar Aiyar
Publisher: International Monetary Fund
ISBN: 1513596179
Category : Business & Economics
Languages : en
Pages : 37

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Book Description
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.

Author: Jaanika Meriküll
Publisher:
ISBN:
Category :
Languages : en
Pages : 0

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Author: Oecd
Publisher: Org. for Economic Cooperation & Development
ISBN: 9789264998285
Category :
Languages : en
Pages : 368

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Author: Mr. Sakai Ando
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 96

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In 2020, the COVID-19 pandemic caused by far the largest shock to European economies since World War II. Yet, astonishingly, the EU unemployment rate had already declined to its pre-crisis level by 2021Q3, and in some countries the labor force participation rate is at a record high. This paper documents that the widespread use of job retention schemes has played an essential role in mitigating the pandemic’s impact on labor markets and thereby facilitating the restart of European economies after the initial lockdowns.

Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1513571648
Category : Business & Economics
Languages : en
Pages : 36

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We document the short-term impact of the COVID-19 pandemic on the Brazilian labor market focusing on employment, wages and hours worked using the nationally representative household surveys PNAD-Continua and PNAD COVID. Sectors most susceptible to the shock because they are more contact-intensive and less teleworkable, such as construction, domestic services and hospitality, suffered large job losses and reductions in hours. Given low income workers experienced the largest decline in earnings, extreme poverty and the Gini coefficient based on labor income increased by around 9.2 and 5 percentage points, respectively, due to the immediate shock. The government’s broad based, temporary Emergency Aid transfer program more than offset the labor income losses for the bottom four deciles, however, such that poverty relative to the pre-COVID baseline fell. At a cost of around 4 percent of GDP in 2020 such support is not fiscally sustainable beyond the short-term and ended in late 2020. The challenge will be to avoid a sharp increase in poverty and inequality if the labor market does not pick up sufficiently fast in 2021.

Author: OECD
Publisher: OECD Publishing
ISBN: 9264340335
Category :
Languages : en
Pages : 404

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The 2021 edition of the OECD Employment Outlook focusses on the labour market implications of the COVID‐19 crisis. Chapters 1-3 concentrate on the main labour market and social challenges brought about by the crisis and the policies to address them.

Author: OECD
Publisher: OECD Publishing
ISBN: 9264181865
Category :
Languages : en
Pages : 234

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Provides an annual assessment of labour market developments and prospects in the OECD area. This edition includes chapters on regional disparities in labour markets, employment in the service economy, unemployment benefits, and self-employment. A Statistical Annex is provided.

Author: Nordiska Ministerrådet
Publisher: Nordic Council of Ministers
ISBN: 9289322950
Category : Economic policy
Languages : en
Pages : 303

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Author: Giovanni Razzu
Publisher:
ISBN: 0199686483
Category : Business & Economics
Languages : en
Pages : 177

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Book Description
This book addresses one of the most topical and pressing areas of inequality experienced by women in the UK: inequality in the labour market. Despite the changed and changing position of women in society there remain substantial gender differences in the labour market. Bringing together the expertise of a range of authors, including renowned scholars and senior policy makers, it offers a coherent account of gender inequality in the labour market. It includes: - An extensive introduction with the wider context, the basic facts on various relevant labour market outcomes, international comparisons, and the legislative framework; - Chapters that focus on the key issues, offering analysis of the way inequality in the labour market is related to the wider macroeconomic dynamics, factors that explain the gender pay gap, the transition from education to the labour market, the dimensions of occupational segregation, and the division of labour within the household. The book is essential reading for academics and students with an interest in gender inequality and the labour market, as well as for those who would like an objective account of the main factors explaining this inequality.