When Short-Time Work Works - ENSAE Paris Accéder directement au contenu
Pré-Publication, Document De Travail Année : 2018

When Short-Time Work Works

Résumé

Short-time work programs were revived by the Great Recession. To understand their operating mechanisms, we first provide a model showing that short-time work may save jobs in firms hit by strong negative revenue shocks, but not in less severely-hit firms, where hours worked are reduced, without saving jobs. The cost of saving jobs is low because short-time work targets those at risk of being destroyed. Using extremely detailed data on the administration of the program covering the universe of French establishments, we devise a causal identification strategy based on the geography of the program that demonstrates that short-time work saved jobs in firms faced with large drops in their revenues during the Great Recession, in particular when highly levered, but only in these firms. The measured cost per saved job is shown to be very low relative to that of other employment policies.
Fichier principal
Vignette du fichier
2018-cahuc-et-al-when-short-time-work-works.pdf (620.22 Ko) Télécharger le fichier
Origine : Fichiers éditeurs autorisés sur une archive ouverte

Dates et versions

hal-03393127 , version 1 (21-10-2021)

Licence

Paternité - Pas de modifications

Identifiants

Citer

Pierre Cahuc, Francis Kramarz, Sandra Nevoux. When Short-Time Work Works. 2018. ⟨hal-03393127⟩
207 Consultations
50 Téléchargements

Partager

Gmail Facebook X LinkedIn More