The aim of this study is to allow the Commission to update the calibration and further operationalize the existing Labour Market Model. This model has been set up by external experts in order to improve the European Commission’s understanding of transmission mechanisms of labour market policies in the context of the European Employment Strategy. The Labour Market Model is used to provide a theoretical and empirical basis for identifying the possible direction and intensity of the effects of labour market policies. It uses actual economic data to estimate how an economy might react to changes in labour market policies or other policy reforms or external factor.

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