What explains the German labor market miracle in the Great Recession?

Released on by Michael C. Burda
preview-18

  • What explains the German labor market miracle in the Great Recession? Book Detail

  • Author : Michael C. Burda
  • Release Date : 2011
  • Publisher :
  • Genre : Economics
  • Pages : 37
  • ISBN 13 :
  • File Size : 45,45 MB
DOWNLOAD BOOK

What explains the German labor market miracle in the Great Recession? by Michael C. Burda PDF Summary

Book Description: Germany experienced an even deeper fall in GDP in the Great Recession than the United States, with little employment loss. Employers' reticence to hire in the preceding expansion, associated in part with a lack of confidence it would last, contributed to an employment shortfall equivalent to 40 percent of the missing employment decline in the recession. Another 20 percent may be explained by wage moderation. A third important element was the widespread adoption of working time accounts, which permit employers to avoid overtime pay if hours per worker average to standard hours over a window of time. We find that this provided disincentives for employers to lay off workers in the downturn. Although the overall cuts in hours per worker were consistent with the severity of the Great Recession, reduction of working time account balances substituted for traditional government-sponsored short-time work.

Disclaimer: www.yourbookbest.com does not own What explains the German labor market miracle in the Great Recession? books pdf, neither created or scanned. We just provide the link that is already available on the internet, public domain and in Google Drive. If any way it violates the law or has any issues, then kindly mail us via contact us page to request the removal of the link.