tailieunhanh - WORLD ECONOMIC OUTLOOK Rebalancing Growth phần 6

Trong suy thoái gần đây, nền kinh tế trong đó có một số tiên tiến của Pháp, Đức, Ý, Nhật Bản, Hà Lan, Thụy Điển, và Hoa Kỳ gia tăng sử dụng các chương trình làm việc trong thời gian ngắn như một công cụ để ổn định công ăn việc làm khi đối mặt với suy giảm sản lượng lớn . e bảng trình bày một bản chụp của các chương trình này | CHAPTER 3 UNEMPLOYMENT DYNAMICS DURING RECESSIONS AND RECOVERIES OKUN S LAW AND BEYOND Box . Short-Time Work Programs During the recent downturn several advanced economies including France Germany Italy Japan the Netherlands Sweden and the United States increased their use of short-time work programs as a tool to stabilize employment in the face of large output declines. The table presents a snapshot of these programs for some major economies. Emerging economies such as Chile also introduced short-time work programs. Recognizing its importance the International Labor Organization cites work sharing as a specific crisis management tool in its 2009 Global Jobs Pact. Theoretical Pros and Cons The defining feature of short-time work programs is an adjustment for a decline in labor demand by a reduction in hours leaving employment essentially unchanged. Thus unlike layoffs where the burden is borne only by terminated workers short-time work involves greater burden sharing. The reduction in hours worked is met by a reduction in gross wages although the per hour wage of the worker typically rises in many shorttime work programs. Employers are subsidized for the increase in hourly wages either through unemployment insurance UI or other government funds. These programs involve both costs and benefits. An oft-cited benefit of short-time work programs is that they counter potential wage deflation pressures The author of this box is Mitali Das. during a severe recession. By stabilizing employment and smoothing income through a downturn such programs also mitigate large adjustments in domestic demand. In addition there may be societal gains from reduced training and hiring costs and potentially productivity gains from retaining workers and thus maintaining employee morale Vroman and Brusentsev 2009 . The use of short-time work may also be associated with large costs. Since participation in such programs is contingent on maintaining ties with an existing employer job lock .