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Inefficient Short-Time Work

Listed author(s):
  • Cahuc, Pierre
  • Nevoux, Sandra
Registered author(s):

    This paper shows that the reforms which expanded short-time work in France after the great 2008-2009 recession were largely to the benefit of large firms which are recurrent short-time work users. We argue that this expansion of short-time work is an inefficient way to provide insurance to workers, as it entails cross-subsidies which reduce aggregate production. An efficient policy should provide unemployment insurance benefits funded by experience rated employers' contributions instead of short-time work benefits. We find that short-time work entails significant production losses compared to an unemployment insurance scheme with experience rating.

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    File URL: http://www.cepr.org/active/publications/discussion_papers/dp.php?dpno=12269
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    Paper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 12269.

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    Date of creation: Sep 2017
    Handle: RePEc:cpr:ceprdp:12269
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