Hence, you are all invited to engage! [13] What are the key lessons that we can take away from these examples of evidence-based policy? What are the elements of a good evaluation process? Institutional knowledge and methodological diversity are the basis for good policy evaluations. Sound, evidence-based policy making needs to be based on a range of studies and methods.
If wages and prices are flexible enough and be able to adjust to the changes in the economic conditions, then this will help to avoid unwelcome fluctuations in unemployment. Specifically, in a monetary union most of the adjustment has to take place through national labour markets.