We study a large-scale French reform that provided generous downside insurance for unemployed individuals starting a … employment is largely offset by large crowd-out effects. However, because new firms are more productive, the reform has the …

We provide a unified discussion of the relations among flows of workers, changes in employment and changes in the … number of jobs at the level of the firm. Using the only available set of data (a nationally representative sample of Dutch … firms in 1988 and 1990) we discover that: 1) Nearly half of all hiring is by firms where employment is not growing; 2) Over …