Short-time work schemes could cost govt’s up to 2% of GDP, UBS estimates in downside scenario w/13 w

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Short-time work schemes could cost govt's up to 2% of GDP, UBS estimates in downside scenario w/13 weeks shutdown & 26% of workers in short-time. One week of lockdown in EZ countries costs between 0.15-0.25% of GDP in short-time benefits way more than assumed in fiscal packages. h/t Holger Zschaepitz

Short-time work schemes could cost govt's up to 2% of GDP, UBS estimates in downside scenario w/13 w

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