Table 8 The effect of STW usage on the propensity to lay off permanent workers
From: Short-time work in the Great Recession: firm-level evidence from 20 EU countries
Dependent variable | (1) Manufacturing | (2) Construction | (3) Trade | (4) Business services |
|---|---|---|---|---|
Collective layoffs | 0.1160*** (0.0285) | 0.0955** (0.0410) | 0.0722*** (0.0251) | 0.0984*** (0.0270) |
Individual layoffs | 0.0892*** (0.0193) | 0.0889** (0.0407) | 0.0809*** (0.0215) | 0.1105*** (0.0294) |
Temporary layoffs | − 0.0017 (0.0204) | 0.0202 (0.0339) | − 0.0770*** (0.0050) | 0.0000 (0.0246) |
Subsidised reduction of working hours (STW) | − 0.0401** (0.0197) | − 0.2028*** (0.0538) | − 0.0050 (0.0225) | − 0.0615** (0.0262) |
Non-subsidised reduction of working hours | − 0.0071 (0.0177) | − 0.0263 (0.0335) | − 0.0130 (0.0190) | − 0.0181 (0.0228) |
Non-renewal of temporary contracts | − 0.20203 (0.0170) | 0.0690** (0.0363) | − 0.0009 (0.0216) | − 0.0489** (0.0207) |
Early retirement schemes | 0.0540*** (0.0172) | 0.0818** (0.0363) | 0.0188 (0.0251) | 0.0307 (0.0296) |
Freeze or reduction of new hires | 0.0344 (0.0230) | 0.0939** (0.0433) | 0.0716*** (0.0168) | 0.0974*** (0.0183) |
Reduction of agency workers and others | 0.0170 (0.0169) | 0.0710** (0.0286) | − 0.0090 (0.0240) | 0.0381* (0.0189) |
N | 1874 | 701 | 1126 | 1679 |
Firm and worker characteristics | Yes | Yes | Yes | Yes |
Size dummies | Yes | Yes | Yes | Yes |
% firms that laid-off workers | 57% | 53% | 54% | 55% |