The labour market is strongly segmented, being normally characterized by the coexistence of two forms of deficits: the labour demand deficit (i.e. unemployment) and the labour offer deficit (i.e. vacancy jobs). As these deficits are obvious in the case of some different occupations or of some...

A highly segmented labor market usually favors a mismatch between supply and demand, significantly limiting the functional flexibility and the resilience of this market to macroeconomic shocks. From this perspective, such a market hampers the transition of an EU member to the euro zone,...