Dengler, Thomas; Gehrke, Britta; Zessner-Spitzenberg, … - 2025
During the Covid-19 crisis, most OECD countries used short-time work (subsidized reductions in working hours) to … preserve employment. This paper documents that short-time work affects the behavior of firms (supply) and households (demand …). First, using household survey data from Germany, we show that the consumption risk of short-time work is lower than that of …