SHORT-TIME WORK POLICIES DURING THE COVID-19 PANDEMIC - HAL-SHS - Sciences de l'Homme et de la Société
Journal Articles Annals of Economics and Statistics Year : 2022

SHORT-TIME WORK POLICIES DURING THE COVID-19 PANDEMIC

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.
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Dates and versions

halshs-04271733 , version 1 (06-11-2023)

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Julien Albertini, Arthur Poirier, Xavier Fairise, Anthony Terriau. SHORT-TIME WORK POLICIES DURING THE COVID-19 PANDEMIC. Annals of Economics and Statistics, 2022, 146, pp.123-172. ⟨10.2307/48674141⟩. ⟨halshs-04271733⟩
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