The policy report summarizes the research findings of Area 4. It is structured along milestone 80 (WWWforEurope Working Paper Number 4) which provides a broad perspective on governance in Europe. The additional milestones are grouped according to their focus in three groups which make up the...

Reducing institutional rigidities in product and labour markets is key to lowering unemployment. The impact of such labour and product market reforms, however, depends crucially on the country-specific regulatory framework. In this paper, we estimate the country-specific impact of changes in six...

Despite significant measures to reinforce the EMU’s institutional set-up, there is widespread consensus that more needs to be done in order to better deal with cyclical and structural heterogeneity in the EU. Market-based adjustment mechanisms are necessary but not sufficient to advance...