... implications These findings suggest that STW can substantially reduce medium-run employment and earnings losses following sudden and unexpected demand shocks. They support the use of well-targeted job-retention schemes in response to future large-scale economic shocks. Originality/value The paper provides...

...Nicolas Sirven; Thomas Barnay Purpose The purpose of this paper is to estimate a reduced form model of expectations-based reference-dependent preferences to explain job retention of older workers in Europe in the context of the 2009 economic crisis. Design/methodology/approach Using individual...