Securing jobs in times of Recession: The German Experience during the Financial Crisis 2008/2009

• Autores: Martin Dietz, Michael Stops, Ulrich Walwei
• Localización: Estudios de economía aplicada, ISSN 1133-3197, ISSN-e 1697-5731, Vol. 30, Nº 1, 2012 (Ejemplar dedicado a: Mercado de trabajo y crisis económica), págs. 59-100
• Idioma: inglés
• Títulos paralelos:
  • Asegurando los puestos de trabajo en tiempos de recesión: la experiencia alemana durante la crisis financiera 2008/2009
• Enlaces
  • Texto completo
• Resumen
  • español

    As a consequence of the global financial crisis Germany experienced the deepest slowdown of its economy since World War II. However, given the sharp decrease of GDP the German labour market was quite stable compared to previous recessions when the labour market response was stronger. Therefore, there are empirical indications for temporary labour hoarding and it can be shown that the most significant factor for securing jobs was a reduction of working time. At the beginning of the crisis the conditions for short-time work became more attractive to firms. Therefore, non-subsidised forms of working time reductions or labour hoarding were complemented by public subsi-dies in the form of short-time work.

  • English

    As a consequence of the global financial crisis Germany experienced the deepest slowdown of its economy since World War II. However, given the sharp decrease of GDP the German labour market was quite stable compared to previous recessions when the labour market response was stronger. Therefore, there are empirical indications for temporary labour hoarding and it can be shown that the most significant factor for securing jobs was a reduction of working time. At the beginning of the crisis the conditions for short-time work became more attractive to firms. Therefore, non-subsidised forms of working time reductions or labour hoarding were complemented by public subsi-dies in the form of short-time work.