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Ms. Elva Bova, João Tovar Jalles, and Ms. Christina Kolerus
This paper explores conditions and policies that could affect the matching between labor demand and supply. We identify shifts in the Beveridge curves for 12 OECD countries between 2000Q1 and 2013Q4 using three complementary methodologies and analyze the short-run determinants of these shifts by means of limited-dependent variable models. We find that labor force growth as well as employment protection legislation reduce the likelihood of an outward shift in the Beveridge curve,. Our findings also show that the matching process is more difficult the higher the share of employees with intermediate levels of education in the labor force and when long-term unemployment is more pronounced. Policies which could facilitate labor market matching include active labor market policies, such as incentives for start-up and job sharing programs. Passive labor market policies, such as unemployment benefits, as well as labor taxation render matching signficantly more difficult.
Mr. Martin Schindler
Despite improvements in labor market performance over the past decade, owing in part to past reforms, Italy's employment and productivity outcomes continue to lag behind those of its European peers. This paper reviews Italy's institutional landscape and labor market trends from a cross-country perspective, and discusses possible avenues for further reform. The policy discussion draws on international reform experience and on simulations based on a calibrated labor market matching model. A key lesson is that the details of reform design, and the sequencing of reforms, matter greatly for labor market outcomes and for the fiscal costs associated with these reforms.
Mrs. Nujin Suphaphiphat and Hiroaki Miyamoto

group of individuals and that it will be a potent cause of income inequality, given that a lack of work is the most important cause of poverty among working-age households in most European countries. 4. Using the panel data for 25 European countries over the period 2000 – 18, this paper finds that skill mismatches and labor market matching efficiency are associated with the incidence of LTU . When skills of the unemployed no longer meet labor demand, it contributes to protracted unemployment. The erosion of skills during unemployment would worsen the situation. In

Mr. Martin Schindler

recognizing that labor market reform benefits from, and depends on, reform measures in other areas, such as product market reform. While the experiences of successful labor market reformers suggest that partial reforms should be avoided, they do not imply that all shortcomings of the labor market need to be addressed simultaneously. However, they do point to the need for careful sequencing, and combination, of selected reforms. A simulation exercise, based on a calibrated labor market matching model, quantifies the dynamic impact from a variety of possible reform paths

Mrs. Nujin Suphaphiphat and Hiroaki Miyamoto
While unemployment rates in Europe declined after the global financial crisis until 2018/19, the incidence of long-term unemployment, the share of people who have been unemployed for more than one year to the total unemployed, remained high. Moreover, the COVID-19 pandemic could aggravate the long-term unemployment. This paper explores factors associated with long-term unemployment in European countries, using panel of 25 European countries over the period 2000–18. We find that skill mismatches, labor market matching efficiency, and labor market policies are associated with the incidence of long-term unemployment. Among different types of active labor market policies, training and start-up incentives are found to be effective in reducing long-term unemployment.
Ms. Elva Bova, João Tovar Jalles, and Ms. Christina Kolerus