TY  - RPRT
        AU  - Eichhorst, Werner
AU  - Feil, Michael
AU  - Marx, Paul
        TI  - Crisis, What Crisis? Patterns of Adaptation in European Labor Markets
        PY  - 2010/Jul/
        PB  - Institute of Labor Economics (IZA)
        CY  - Bonn
        T2  - IZA Discussion Paper
        IS  - 5045
        UR  - https://www.iza.org/publications/dp5045
        AB  - The current crisis, while of a global nature, has affected national labor markets to a varying extent. While some 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 in others. One major factor to be incorporated in capturing national variations is the role of internal flexibility, in particular working time adjustment. This calls for a broader concept of labor market flexibility which takes into account different channels of adjustment.
        KW  - employment protection
KW  - labor market institutions
KW  - internal flexibility
KW  - economic crisis
        ER  -