the employment performances of those countries. Moreoever, these institutions act asymmetrically along the business cycle …

impact of labour market institutions from 1960 to 1994. The main contribution of the paper is to show that labour market …. These results are consistent with the findings of a companion paper (Nickell et al., 2001) where the effects of institutions … on unemployment are examined. The model controls for macroeconomic shocks, and include the possibility of interactions …

This paper contributes to the debate on the causes of unemployment in interwar Germany. It applies the Layard …, combined with nominal inertia in the labour market, were important in explaining unemployment. In addition real wage pressures … due to the political processes of wage determination were a major influence on unemployment. Negative demand shocks appear …