SHORT-TIME WORK POLICIES DURING THE COVID-19 PANDEMIC

Julien Albertini, Arthur Poirier, Xavier Fairise () and Anthony Terriau
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Xavier Fairise: GAINS - Groupe d'Analyse des Itinéraires et des Niveaux Salariaux - UM - Le Mans Université

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Abstract: In this paper, we analyze the impact of short-time work programs on the French labor market during the COVID-19 pandemic. We develop a dynamic model with incomplete markets, search frictions, human capital, and aggregate and idiosyncratic productivity shocks. We calibrate our model and simulate what the labor market response to a lockdown shock would have been under various STW programs. We show that STW succeeded in stabilizing employment and consumption but generated substantial windfall effects characterized by an excessive reduction in hours worked.

Keywords: COVID-19; Matching Frictions; Short-Time Work Policies; Incomplete Markets (search for similar items in EconPapers)
Date: 2022
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Published in Annals of Economics and Statistics, 2022, 146, pp.123-172. ⟨10.2307/48674141⟩

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Related works:
Journal Article: Short-Time Work Policies During the Covid-19 Pandemic (2022)
Working Paper: Short-time work policies during the COVID-19 pandemic (2022)
Working Paper: Short-time work policies during the COVID-19 pandemic (2022)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:halshs-04271733

DOI: 10.2307/48674141

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