The labour market in Russia is very flexible. Firms adjust to economic shocks through wage cuts, working hour reductions and minimisation of non-wage labour costs. Workers react by changing jobs. This results in a high and stable overall employment rate, but also high wage inequality,...

While there is a fairly broad consensus regarding the potential adverse effects of generous unemployment benefit insurance on steady-state employment, the short-term effects of benefit reforms are not well-established. This paper contributes to fill this gap by estimating impulse responses to...

This paper updates of the OECD Insolvency framework indicator, which summarises the main features of insolvency systems, with respect to their ability to prevent the failure of viable firms, allow a timely exit of non-viable companies, facilitate corporate restructuring and promote...

The increase in institutional ownership, the shift towards passive portfolio management and the rise of common ownership have transformed OECD countries financial markets in the last decades. The paper investigates the potential consequences of these transformations on firm's productivity, using...