Lehmann, Hartmut; Razzolini, Tiziano; Zaiceva, Anzelika - 2017
unemployment. Underemployment constitutes another important adjustment channel, while the evidence for informal employment is more … the years 2002 to 2012. We show that with flexible labor markets, weak unions and relatively low employment protection …, adjustment takes place predominantly at the extensive margin since it is driven by flows from permanent wage employment to …