Theory and Empirics of Short-Time Work: A Review

Natalia Bermudez (), Muriel Dejemeppe and Giulia Tarullo ()
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Natalia Bermudez: UNIVERSITE CATHOLIQUE DE LOUVAIN, Institut de Recherches Economiques et Sociales (IRES)
Giulia Tarullo: UNIVERSITE CATHOLIQUE DE LOUVAIN, Institut de Recherches Economiques et Sociales (IRES)

No 2023018, LIDAM Discussion Papers IRES from Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES)

Abstract: Following massive take-up rates during the COVID-19 period, short-time work (STW) policies have attracted renewed interest. In this paper, we take stock of this policy instrument and provide a critical review of STW systems in Europe. We focus on the objectives of STW programs and their primary characteristics, as well as the inefficiencies associated with these policies, such as excessive use and slower worker reallocation. Additionally, we take a stroll through the main contributions of STW impact evaluations. Finally, we identify relevant directions for the refinement of the main design features of the scheme, key lessons, and avenues for future research.

Keywords: Short-time work; labor hoarding; employment; firm survival; unemployment insurance (search for similar items in EconPapers)
JEL-codes: E24 J22 J23 J63 J65 (search for similar items in EconPapers)
Date: 2023-10-30
New Economics Papers: this item is included in nep-lab and nep-mac
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Related works:
Working Paper: Theory and Empirics of Short-Time Work: A Review (2023)
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Persistent link: https://EconPapers.repec.org/RePEc:ctl:louvir:2023018

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