We use firm-level survey data from 25 EU countries to analyse how firms adjust their labour costs (employment, wages … response to positive shocks in 2010-13, firms were more likely to increase wages, followed by increases in employment and then … likely to reduce employment, then hourly wages and then hours worked, regardless of the source of the shock. Results for the …

. It exploits quasi-experimental variation in firms' foreign demand resulting from the global financial crisis, using … the universe of cash transfer, unemployment insurance, and training beneficiaries. Negative employment effects take over a … permanently skilled workers while reducing unskilled workers. Brazilian workers suffer smaller employment losses in highly …

large sector-specific shocks. However, the latter shows much less labor reallocation because ERTEs were available to firms …