European Union

This is what you need to know about short-time work

Short-time work schemes are an important fiscal stabiliser in many countries Image: REUTERS/Rebecca Cook

Reamonn Lydon

Senior Advisor, Research and Analysis, , Central Bank of Ireland

Thomas Y. Mathä

Economics and Research Department,, Central Bank of Luxembourg

Stephen Millard

Senior Economist, , Bank of England

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Notes: Private sector firms in manufacturing, construction, trade, business and other services and financial intermediation. Image: WDN3.
Private sector firms in manufacturing. Image: WDN3.
All sectors. Data are predicted values from a regression controlling for firm and worker characteristics, altering the values for skill composition and tenure. ‘High-skilled’ in the chart refers to high-skilled non-manual workers. Image: WDN3.
Conditional on firms saying they had to reduce labour inputs between 2010 and 2013. Data are predicted values from a regression controlling for firm and worker characteristics, altering the values for wage rigidity. Image: WDN3.

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Responses estimated from a panel VAR, assuming that employment follows output with a lag. There are 2,222 country-sectors in the two samples, of which, approximately 900 are in the high-STW group. Image: WDN3.

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