Until recently, China has been the leading contributor to global economic growth and-since the recent global financial crisis-a stabilizing driver of its evolution. However, as China recently began to rebalance its economy away from investment and exports and toward consumption, its GDP growth...

This paper explores the short-term employment effect of deregulating job protection forregular workers and how it varies with prevailing business cycle conditions. We apply a localprojection method to a newly constructed 'narrative' dataset of major regular job protectionreforms covering 26...