, especially in economic downturn. Cuts in unemployment spell duration have been the main factors to contribute in decreasing the … unemployment in the recent years. Subsidised employment programmes have clearly a stronger countercyclical character than Labour … unemployment, but the selectivity should not be destroyed. …

We analyse how alternative reforms of the student financial aid would influence average study duration, government … increase the average study duration. The size of this effect depends on how willing the students are to take student loans. …