# Propping up the Job Ladder? The Dynamic Effects of Subsidising Labour Hoarding in Recessions
**Date de l'événement :** 02/04/2024
* Publié le 02/04/2024

### Image(s)
![Page de garde du mémoire](https://firebasestorage.googleapis.com/v0/b/memory-sp-pr.appspot.com/o/prod%2F1y7CgDOTakHDiB3dgoi0%2FprojectsMedias%2FaA8nLrzHHk4aiFyYOOdM%2Fthumbs%2FCapture%20d'%C3%A9cran%202026-02-16%20172229_uacrm_1600x900.png?alt=media&token=9367b63d-2553-459c-9700-6f677145b263) 

## Auteur(s)
Bo Jacobs Strom

## Direction
Jean-Marc Robin

## Description
**Ce mémoire est issu de la sélection des meilleurs mémoires du master d’économie de l'année 2023-2024 :  
  
Introduction**  
  
The pandemic recession of 2020 posed an unprecedented challenge to social insurance systems around the globe. Policy makers had to reckon with an unprecedentedly deep recession, with severe restrictions on the work people could do. The response many of them found differed significantly from previous recessions: rather than simply providing unemployed workers with unemployment insurance (UI) - policy-makers went to lengths to try and either keep these workers in their job, or ensure that when the pandemic was over that their job would be waiting for them. In short, they aimed to subsidise labour hoarding during the recession. This element of the response took different forms in different countries, in most of Europe it took the form of furlough or short-time-work schemes, which subsidised hours reductions with the aim of incentivising employers to make employment adjustments on the intensive rather than extensive margin (Giupponi, Landais, and Lapeyre 2022). In the US it instead took the form of the Paycheck Protection Program, which provided temporary loans to alleviate firms’ liquidity constraints in order to both keep workers in their jobs, and to allow firms to survive in order to recall their workers later (Gertler, Huckfeldt, and Trigari 2022). Meanwhile the recovery from the great recession, particularly in the labour market - has stood in sharp contrast to the recovery from the Great Recession. Rather a long era of stagnant wages and high unemployment, labour markets generally rebounded quickly, with unemployment soon dropping to it’s pre- pandemic level or below, and with increasing wages at the bottom end of the distribution driving wage compression (Autor, Dube, and McGrew 2023).  
  
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**Accéder au mémoire en ligne :** [https://www.sciencespo.fr/ecole-recherche/sites/sciencespo.fr.ecole-recherche/files/JACOBSTROM_bo.pdf](https://www.sciencespo.fr/ecole-recherche/sites/sciencespo.fr.ecole-recherche/files/JACOBSTROM_bo.pdf)

### Type(s) de ressource
`#Texte` 

### Discipline
`#Économie` 

### Thématique(s)
`#Travail / relations professionnelles / emploi` `#Économies` 

### Langue(s)
`#Anglais` 

### Famille(s) de contenu
`#Recherche` `#Production étudiante` 

### Type(s) d'accès
`#Accès libre` 

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