Quotation Herzog-Stein, Alexander, Lindner, Fabian, Sturn, Simon. 2018. The German employment miracle in the Great Recession: the significance and institutional foundations of temporary working-time reductions. Oxford Economics Papers 70 (1), 206-224.


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Abstract

We analyse the robust performance of the German labour market in the Great Recession, and investigate to what extent cyclical reductions in productivity and working time cushioned employment losses. We present stylized facts and apply time-series techniques to estimate counterfactual developments. Our results show that the magnitude of temporary working-time reductions was extraordinarily pronounced, whereas cyclical reductions in hourly productivity were in line with historical evidence. Using detailed information on instruments for the adjustment of working time, we uncover the institutional mechanisms behind this strong reduction. While short-time work played a significant role, even more important were working-time accounts and discretionary variations in regular working time, two new instruments which gained widespread use in the decade before the Great Recession.

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Publication's profile

Status of publication Published
Affiliation WU
Type of publication Journal article
Journal Oxford Economics Papers
Citation Index SSCI
WU-Journal-Rating new WH-B
Language English
Title The German employment miracle in the Great Recession: the significance and institutional foundations of temporary working-time reductions
Volume 70
Number 1
Year 2018
Page from 206
Page to 224
Reviewed? Y
URL https://doi.org/10.1093/oep/gpx047
DOI http://dx.doi.org/10.1093/oep/gpx047
JEL J50, E32, E37, J20, E24

Associations

People
Sturn, Simon (Details)
External
Herzog-Stein, Alexander (Institute for Macroeconomic Policy, Germany)
Lindner, Fabian (Institute for Macroeconomic Policy, Germany)
Organization
Department of Socioeconomics DP (Details)
Research areas (Ă–STAT Classification 'Statistik Austria')
5339 Economic analyses (Details)
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