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1 Introduction Labor market institutions are considered key determinants of the functioning of the labor market and, hence, of economic performance ( Blanchard and Wolfers, 2000 , Botero et al., 2005 , Turrini et al., 2014 , OECD, 2019 ). A less studied issue is, however, how enforcement of regulation by the judicial system affects labor market outcomes. In the case of employment protection legislation (EPL), labor courts play a central role. EPL mandates procedural rules for the resolution of firings. These rules create some room for strategic behavior by

Technology, Department of Economics. Blanchard O., Wolfers. (2000), The Role of Shocks and Institutions in the Rise of European Unemployment: The Aggregate Evidence, ‘Economic Journal’ no. 110. Boeri T., Garibaldi P. (2005), Are Labour Markets in the New Member States Sufficiently Flexible for the EMU?, ‘Journal of Banking & Finance’ no. 30. Boulhol H. (2014), Making the Labour Market Work Better in Poland, ‘OECD Economics Department Working Papers’, no. 1124. Cahuc P., Jolivet G. (2003), Do We Need More Stringent Employment Protection Legislations? , document

Abstract

The paper introduces a model of how workers rationally decide to which country within an area of monetary and economic integration they will move for the purposes of living and working. Since Mundell accomplished his pivotal respective analyses, the Optimal Currency Area (OCA) literature has highlighted the importance of the reallocation of the labour force within common currency areas in order to cushion asymmetric shocks. However, several studies have put into question whether such a mobility may be considered adequately effective and efficient within the Euro Zone and, hence, political solutions have been urgently requested. This paper, using the concept of employment protection legislation (EPL), looks at the impact of the different flexibility degrees applied among national labour markets on the international labour movements within the Euro Zone, and it then proposes a reform of such in terms of the degrees of flexibility that could achieve the optimal point.

Unemployment, AEA Papers and Proceedings Kwiatkowski E., Włodarczyk P. (2012), Wpływ prawnej ochrony zatrudnienia na rynek pracy w warunkach negatywnego szoku ekonomicznego (The influence of employment protection legislation on labour markets in conditions of negative economic shock), ‘Gospodarka Narodowa’, Szkoła Główna Handlowa, Vol. LXXX/XXI, Nr 11-12, ss. 1-23 Lazear E. P. (1990), Job security provisions and unemployment, ‘Quarterly Journal of Economics’, Oxford Journals, No. 3, ss. 699-726 Malul M., Rosenboim M., Tal S. (2011), The Role of Employment Protection During

tackle unemployment. Labor market regulation is analyzed through the OECD employment protection legislation (EPL) index, which can also be unbundled by type of contract (regular or temporary). The timing of structural reform implementation can be directly linked to the economic environment, leading to an endogeneity issue. Standard econometric methodologies would then provide biased estimates since the change in the unemployment rate can be due to a cyclical component rather than to the implementation of product and labor market reforms. We control for the potential

Abstract

This paper aims to identify the effects of the global crisis on employment and unemployment in the EU countries and indicate factors which may explain the differentiated response of labour markets to this crisis.

Analyses show that the global economic crisis affected the labour markets of EU countries, causing declines in employment and increases in unemployment. The greatest declines in employment were observed in Greece, Estonia, Ireland, Spain, Iceland, and Portugal, and the lowest in Austria, Belgium, the Netherlands, and Poland. The greatest increase in unemployment occurred in the Baltic countries, Greece, Spain, and Portugal.

The analyses indicate that the scale of changes in employment and unemployment during the global crisis depends on such factors as: the depth of the demand shock and scale of GDP adjustments; the degree of openness of the economy; the scope of alternative labour market adjustments and some labour market institutions, especially employment protection legislation and the share of fixed-term employment contracts. The analyses indicate that the smallest declines in employment (and correspondingly the smallest increases in unemployment) during the crisis can be expected in countries where the EPL indexes and share of those employed on fixed-term employment contracts in total employment are moderate.

-based Socioeconomic Index: A Principal Components Analysis Approach , www.cup.ualberta.ca/wp-content/uploads/2013/04/ SEICUPWebsite_10April13.pdf (30.07.2013). Lai, D. (2003). Principal component analysis on human development indicators of China. Social Indicators Research , Vol. 61, No. 3. Nicoletti, G., Scarpetta, S. & Boylaud, O. (2000). Summary indicators of product market regulation with an extension to employment protection legislation . OECD Publications, Economics Department Working Papers No. 226, Paris. OECD (2008). Handbook on Constructing Composite Indicators

: Stata module to perform full Mahalanobis and propensity score matching, common support graphing, and covariate imbalance testing". http://ideas.repec.org/c/boc/bocode/s432001.html Meardi, G. 2007. "More voice after more exit? Unstable industrial relations in Central Eastern Europe", Indutrial Relations Journal , 38:6, 503-523. OECD 2004. "Chapter 2: Employment Protection Legislation and Labour Market Performance", OECD Employment Outlook. Rosenbaum, P. R. Rubin, D. 1985. "Constructing a Control Group Using Multivariate Matched Sampling Methods that Incorporate the

. and Cutuli, G., 2015: Employment protection legislation, labour market dualism, and inequality in Europe. In: European Sociological Review . DOI: http://dx.doi.org/10.1093/esr/jcv058 . Batty, M., 2012: Urban regeneration as self-organisation. In: Architectural Design: Special Issue , Vol. 82(1), pp. 54–59. Bauman, Z., 2013: The individualized society. New York: John Wiley & Sons. Bennett, W.L., 2012: The personalization of politics: political identity, social media, and changing patterns of participation. In: The Annals of the American Academy of Political

. (2013): Protecting Jobs, Enhancing Flexibility: A New Look at Employment Protection Legislation. OECD Employment Outlook 2013. OECD Publishing, Paris. OECD 2013 Protecting Jobs, Enhancing Flexibility: A New Look at Employment Protection Legislation OECD Employment Outlook 2013 OECD Publishing Paris OECD. (2016): Recent Labour Market Developments and the Short-Term Outlook. OECD Employment Outlook 2016. OECD Publishing, Paris. OECD 2016 Recent Labour Market Developments and the Short-Term Outlook OECD Employment Outlook 2016 OECD Publishing Paris Office of the