This paper studies short-time work arrangements (ERTEs) when aggregate risk is partially sector-specific. In Spain, the …. We show that ERTEs stabilize unemployment rates by allowing workers to remain with their employers in highly affected …

current institutions, past performance during recessions, and the policy measures adopted during the pandemic. Emphasis is …

understanding that their jobs still exist and that they will be recalled. We show that the resulting temporary-layoff unemployment … mostly dissipated by the end of 2020. Potential workers without jobs constitute what we call jobless unemployment. Shocks … that elevate jobless unemployment have much more persistent effects. Historical major adverse shocks, such as the financial …

implied by new unemployment claims: we estimate 20 million lost jobs by April 8th, far more than jobs lost over the entire … rise in the unemployment rate over the corresponding period to be surprisingly small, only about 2 percentage points. Third …

period in which there were two major recessions and unemployment shifted by a factor of two. …Unemployment is notoriously difficult to predict. In previous studies, once country and year fixed effects are added to … panel estimates, few variables predict changes in unemployment rates. Using panel data for 29 European countries collected …

country that has experienced one of the most severe recessions in Europe and a subsequent remarkable recovery. Employing … margin since it is driven by flows from permanent wage employment to unemployment. We also show that older, non-Latvian and …

The Spanish labour market is characterised by high levels of unemployment, which have increased during the global … economic crisis. Spain is also a country which is characterised by a very high percentage of homeownership, with more than 83 …% of households being owner-occupiers. Both regional levels of unemployment and homeownership are known to be important …