Overview of the book -- Economic turbulence : what, who, and how much? -- The industries -- Firms, their workers, and their survival -- Firm turbulence and job ladders -- Turbulence and worker career paths -- Economic turbulence and middle-income jobs -- Conclusions and implications for policy

This paper studies the effect of labor market reform on the welfare cost of business cycles. Motivated by the German labor market reforms of 2003-2005, the so-called Hartz reforms, the paper focuses on two labor market institutions: the unemployment insurance system determining search incentives...