Shifts in the Beveridge curve are of particular interest in times of crisis, since they are suggestive of structural changes in the unemployment-vacancy relationship. 4  BIS central bankers’ speeches  labour market flexibility in European economies.
The reforms were targeted at reducing the high and persistent structural unemployment rates in European countries, and to ease the relocation of labour from stagnant sectors of the economy to sectors with growth potential. Partial reforms focused on more flexible use of temporary employment contracts These partial reforms, however, focused primarily on more flexible use of fixed-term employment contracts.