Employment dynamics across firms during COVID-19: The role of job retention schemes
This paper analyses employment dynamics across firms during the COVID-19 pandemic and the role of job retention schemes (JRS) in shaping these dynamics. It relies on a novel collection of high-frequency harmonised micro-aggregated statistics, computed using administrative data on employment and wage...
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| Main Author: | |
|---|---|
| Other Authors: | , , , , , , |
| Format: | Electronic eBook |
| Language: | English |
| Published: |
Paris
OECD Publishing
2023
|
| Series: | OECD Economics Department Working Papers
no.1788 |
| Subjects: | |
| Online Access: | DE-862 DE-863 |
| Summary: | This paper analyses employment dynamics across firms during the COVID-19 pandemic and the role of job retention schemes (JRS) in shaping these dynamics. It relies on a novel collection of high-frequency harmonised micro-aggregated statistics, computed using administrative data on employment and wages from electronic payroll records across 12 countries linked to monthly information on policy support during COVID-19, as well as on a new indicator of JRS de-jure generosity. The analysis highlights four key findings: i) the employment adjustment margins varied over time, adjusting mainly through the intensive margin in 2020, while both the intensive and the extensive margins contributed to employment changes in 2021; ii) the reallocation process remained productivity enhancing, although to a lower extent on average compared to 2019; iii) JRS were successful in their purpose of cushioning the effect of the crisis on employment growth and firm survival; iv) JRS support did not distort the productivity-enhancing nature of reallocation. |
| Physical Description: | 1 Online-Ressource (67 Seiten) 21 x 28cm. |
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| 520 | |a This paper analyses employment dynamics across firms during the COVID-19 pandemic and the role of job retention schemes (JRS) in shaping these dynamics. It relies on a novel collection of high-frequency harmonised micro-aggregated statistics, computed using administrative data on employment and wages from electronic payroll records across 12 countries linked to monthly information on policy support during COVID-19, as well as on a new indicator of JRS de-jure generosity. The analysis highlights four key findings: i) the employment adjustment margins varied over time, adjusting mainly through the intensive margin in 2020, while both the intensive and the extensive margins contributed to employment changes in 2021; ii) the reallocation process remained productivity enhancing, although to a lower extent on average compared to 2019; iii) JRS were successful in their purpose of cushioning the effect of the crisis on employment growth and firm survival; iv) JRS support did not distort the productivity-enhancing nature of reallocation. | ||
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| spelling | Calligaris, Sara VerfasserIn aut Employment dynamics across firms during COVID-19 The role of job retention schemes Sara, Calligaris ... [et al] Paris OECD Publishing 2023 1 Online-Ressource (67 Seiten) 21 x 28cm. Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier OECD Economics Department Working Papers no.1788 This paper analyses employment dynamics across firms during the COVID-19 pandemic and the role of job retention schemes (JRS) in shaping these dynamics. It relies on a novel collection of high-frequency harmonised micro-aggregated statistics, computed using administrative data on employment and wages from electronic payroll records across 12 countries linked to monthly information on policy support during COVID-19, as well as on a new indicator of JRS de-jure generosity. The analysis highlights four key findings: i) the employment adjustment margins varied over time, adjusting mainly through the intensive margin in 2020, while both the intensive and the extensive margins contributed to employment changes in 2021; ii) the reallocation process remained productivity enhancing, although to a lower extent on average compared to 2019; iii) JRS were successful in their purpose of cushioning the effect of the crisis on employment growth and firm survival; iv) JRS support did not distort the productivity-enhancing nature of reallocation. Economics Ciminelli, Gabriele MitwirkendeR ctb Costa, Hélia MitwirkendeR ctb Criscuolo, Chiara MitwirkendeR ctb Demmou, Lilas MitwirkendeR ctb Desnoyers-James, Isabelle MitwirkendeR ctb Franco, Guido MitwirkendeR ctb Verlhac, Rudy MitwirkendeR ctb |
| spellingShingle | Calligaris, Sara Employment dynamics across firms during COVID-19 The role of job retention schemes Economics |
| title | Employment dynamics across firms during COVID-19 The role of job retention schemes |
| title_auth | Employment dynamics across firms during COVID-19 The role of job retention schemes |
| title_exact_search | Employment dynamics across firms during COVID-19 The role of job retention schemes |
| title_full | Employment dynamics across firms during COVID-19 The role of job retention schemes Sara, Calligaris ... [et al] |
| title_fullStr | Employment dynamics across firms during COVID-19 The role of job retention schemes Sara, Calligaris ... [et al] |
| title_full_unstemmed | Employment dynamics across firms during COVID-19 The role of job retention schemes Sara, Calligaris ... [et al] |
| title_short | Employment dynamics across firms during COVID-19 |
| title_sort | employment dynamics across firms during covid 19 the role of job retention schemes |
| title_sub | The role of job retention schemes |
| topic | Economics |
| topic_facet | Economics |
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