Economic performances -- Human development performances -- Employment performances -- Macroeconomic policies -- Trade policies -- Globalization -- State-owned enterprises -- Business regulatory framework -- Demand for skilled human resources -- Higher education -- Technical-vocational education...

We study empirically how various labor market institutions - (i) union density, (ii) unemployment benefit remuneration, and (iii) employment protection - shape fiscal multipliers and output volatility. Our theoretical model highlights that more stringent labor market institutions attenuate both...