We know from experience that weak economic growth increases the unemployment rate. In 1962 Okun proposed to measure … potential output in terms of unemployment gap. From this relation a direct link between increase in unemployment and output …

countries have experienced a steep increase in unemployment, employment in other developed economies has not fallen in parallel … with a significant decline in GDP. Our analysis shows that labor market institutions frequently used to study employment … performance can explain the development of unemployment in the situation of crisis in some clusters of countries much better than …

Over the last decade, both the availability of quantitative indicators on labor market institutions and of studies …: first, we provide an overview of the aggregate indicators of core labor market institutions such as employment protection …