European Governments made substantial efforts to reform labor market institutions when walking away from the Eurosclerosis of the 1980s. To achieve political viability, the reforms mostly entailed changing the rules only for new hires and introducing a wide array of new flexible, fixed-term,...

Well functioning labor markets are crucial to the adjustment process required of economies as they are battered with shocks from globalization, technology, etc. Which economic policies and institutions play a positive role in assisting the responsiveness of the labor market to these shocks while...