Caspar, Hartwig, and Moench do little to convince us that they have identified policy prescriptions that might usefully be applied to the United States. They suggest that in countries with high shares of temporary contract workers, employment reductions were sharper (because they could be). But do we really think that an inability to lay off workers is a good labor market policy? Clearly there are costs to such rigidities, and elsewhere in their essay Caspar, Hartwig, and Moench argue for more mobility!
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