This paper investigates the performance of labour markets during the recent crisis for 28 industrialised countries, specifically
the reaction of employment and unemployment indicators relative to output changes. We construct a composite indicator for
output as well as labour market performance. The determinants of cross-country differences we chose are regulation, flexicurity
elements and contracts. We find a robust positive impact of labour market regulation, while the impacts of flexicurity strategies
and contracts are difficult to pin down econometrically. Finally we venture a tentative look at the ongoing recovery.
Forschungsbereich:Makroökonomie und öffentliche Finanzen – Arbeitsmarktökonomie, Einkommen und soziale Sicherheit – Industrie-, Innovations- und internationale Ökonomie