Based on a survey of the literature, assesses the strength of the evidence regarding the effects of labour market institutions and regulations on unemployment. Considers the effects of employment protection, trade union density, bargaining coordination, unemployment benefits, the labour tax...

Productivity growth is the main long-run determinant of living standards. However, there are some distinctions between productivity growth as conventionally measured and the potential of the economy to raise living standards. Specifically, insofar as the share of depreciation in output...