This paper looks at short employment spells in three European countries: Great Britain, whose labour market is considered the most flexible in the EU; Italy, regarded as the least flexible; and Germany, tightly regulated, but characterised by a deservedly famous apprenticeship system. In...

The Great Recession has indicated that firms' leverage and access to finance are important for hiring and firing decisions. It is now empirically established that bank lending is correlated to employment losses when credit conditions deteriorate. We provide further evidence of this drawing on a...