Germany and the United States pursued different economic strategies to minimise the impact of the Coronavirus Crisis on … mainly driven via STW. US unemployment rose at an unprecedented rate, but unlike in previous recessions, it was mostly driven …

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 …