The German Labor Market Miracle Revisited: Risk Elimination in Working Time Accounts

Vivian Carstensen ()
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Vivian Carstensen: Bielefeld University ASC and University of Hannover, Germany

Eurasian Journal of Social Sciences, 2013, vol. 1, issue 1, 19-38

Abstract: This paper contributes to analyses of sustainable enterprise with focus on quality of present and future employment, maintenance of human capital and constituting characteristics of institutional arrangements between the social partners. We add by proving that a specific option from the toolkit of flexible work schedules reduces unemployment risk over the business cycle, while providing mutual insurance of employers and employees. In labor market practice this option is known as working time accounts. Working time accounts are exceptionally widespread and well-institutionalized in Germany. We also introduce a risk elimination model of working time accounts and thus contribute to closing the jobs miracle research gap that has become evident since the global financial and economic crisis.

Keywords: German Labor Market Miracle; Working Time Accounts; Mutual Insurance; Stochastic Dominance Rules; Business Cycle (search for similar items in EconPapers)
Date: 2013
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:ejn:ejssjr:v:1:y:2013:i:1:p:19-38

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