Diaz, Antonia; Dolado, Juan Jose; Jáñez, Álvaro; … - 2023
Great Recession and the pandemic recession (aka the Great Contagion) can both be understood as being driven partially by …This paper studies short-time work arrangements (ERTEs) when aggregate risk is partially sector-specific. In Spain, the … large sector-specific shocks. However, the latter shows much less labor reallocation because ERTEs were available to firms …