Fig. 4

a The effect of the reform on employment probability and earnings by age groups. The figure shows the effects of the reform on each age cohort estimated by models 2 and 4 in Table 5, extended with treatment*age interactions. The left figure shows the treatment effect on the probability of being employed (interpreted as percentage points), while the right figure on the logarithm of earnings (interpreted as percentage change in the earnings). The controls include gender and age, year-of-survey, region, and year-of-labour-market-entry fixed effects. The bars show the average effects with 95% confidence intervals. b The effect of the reform on employment probability and earnings by age groups, without labour market entry fixed effects. The figure shows the effects of the reform on each age cohort estimated by models 1 and 3 in Table 5, extended with treatment*age interactions. The left figure shows the treatment effect on the probability of being employed (interpreted as percentage points), while the right figure on the logarithm of earnings (interpreted as percentage change in the earnings). The controls include gender and age, year-of-survey, and region fixed effects. The bars show the average effects with 95% confidence intervals