@TechReport{iza:izadps:dp7475,
            	author={Balleer, Almut and Gehrke, Britta and Lechthaler, Wolfgang and Merkl, Christian},
            	title={Does Short-Time Work Save Jobs? A Business Cycle Analysis},
            	year={2013},
	month={Jun},
            	institution={Institute of Labor Economics (IZA)},
            	address={Bonn},
            	type={IZA Discussion Paper},
            	number={7475},
            	url={https://www.iza.org/index.php/publications/dp7475},
	abstract={In the Great Recession most OECD countries used short-time work (publicly subsidized working time reductions) to counteract a steep increase in unemployment. We show that short-time work can actually save jobs. However, there is an important distinction to be made: While the rule-based component of short-time work is a cost-efficient job saver, the discretionary component appears to be completely ineffective. In a case study for Germany, we use the rich data available to combine micro- and macroeconomic evidence with macroeconomic modeling in order to identify, quantify and interpret these two components of short-time work.},
	keywords={business cycles;fiscal policy;short-time work;search-and-matching;SVAR},
            }