SHORT-TIME WORK POLICIES DURING THE COVID-19 PANDEMIC
Julien Albertini
- Fonction : Auteur
- PersonId : 176650
- IdHAL : julien-albertini
Xavier Fairise
- Fonction : Auteur
- PersonId : 177499
- IdHAL : xavier-fairise
- ORCID : 0000-0002-1980-4573
- IdRef : 142723320
Anthony Terriau
- Fonction : Auteur
- PersonId : 177490
- IdHAL : anthony-terriau
- ORCID : 0000-0003-3476-1994
Résumé
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.
Domaines
Economies et financesFormat du dépôt | Notice |
---|---|
Type de dépôt | Article dans une revue |
Titre |
en
SHORT-TIME WORK POLICIES DURING THE COVID-19 PANDEMIC
|
Résumé |
en
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.
|
Auteur(s) |
Julien Albertini
1
, Arthur Poirier
2
, Xavier Fairise
3
, Anthony Terriau
3
1
GATE Lyon Saint-Étienne -
Groupe d'Analyse et de Théorie Economique Lyon - Saint-Etienne
( 1169844 )
- 93, chemin des Mouilles 69130 Écully 6, rue Basse des Rives 42023 Saint-Étienne cedex 02
- France
2
LED -
Laboratoire d'Economie Dionysien
( 173249 )
- Université Paris 8 Vincennes-Saint-Denis - 2 rue de la Liberté - 93526 Saint-Denis cedex
- France
3
GAINS -
Groupe d'Analyse des Itinéraires et des Niveaux Salariaux
( 198500 )
- Université du Maine - Avenue Olivier Messiaen - 72085 Le Mans cedex 9
- France
|
Langue du document |
Anglais
|
Nom de la revue |
|
Date de publication |
2022
|
Numéro |
146
|
Page/Identifiant |
123-172
|
Vulgarisation |
Non
|
Comité de lecture |
Oui
|
Audience |
Internationale
|
Domaine(s) |
|
Mots-clés |
en
COVID-19, Matching Frictions, Short-Time Work Policies, Incomplete Markets
|
DOI | 10.2307/48674141 |
Loading...