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Environmental Quality and Welfare Accounting

For several decades, there has been a discussion in economics on how to appropriately measure economic welfare. Although it is common perception that a simple GDP evaluation bears several shortcomings, GDP per capita is still the most prominent …

Some surprising facts about working time accounts and the business cycle

Working time accounts (WTAs) allow firms to smooth hours worked over time. The purpose of this paper is to analyze whether this increase in flexibility has also affected how firms adjust employment in Germany over the business cycle. This paper uses …

Does short-time work save jobs? A business cycle analysis

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 …

Labour force participation across Europe: A cohort-based analysis

Skill-biased technological change and the business cycle

Over the past two decades, technological progress in the United States has been biased towards skilled labor. What does this imply for business cycles? We construct a quarterly skill premium from the CPS and use it to identify skill-biased technology …

New evidence, old puzzles: Technology shocks and labor market dynamics

Can the standard search‐and‐matching labor market model replicate the business cycle fluctuations of the job finding rate and the unemployment rate? In the model, these fluctuations are driven by movements in productivity. This paper investigates the …