 So, the components of labor regulation really are these rules about hiring workers, about firing workers, how much you have to pay to fire workers, so that all of those things, the more rigid are the labor regulations, that's likely to make it harder for the firms to adjust to shocks that come along in the economy, but on the other hand, it kind of protects workers against shocks that they might feel, and it seems to me what we'd like to have is a good set of policies that will balance these two. In developed countries, you have most of the people that are working in the labor market are working in so-called formal sector, where the rules and regulations really apply, whereas in developing countries, you have so much of the economy that's in the informal sector. In developing countries, we'd like to see more of the economy be part of the formal sector, where you can take advantage of capital formation, you can take advantage of human capital formation, and that's going to lead you more towards a developed country. What we've tried to do, and we're doing it in still ongoing work, is to try to quantify as much as we can the key aspects of labor regulations, and that means looking at, in the first place, rules about hiring, about how hard it is to hire, can you hire workers on a short-term contract, and likewise on firing, how easy it is to fire workers, different types, what procedures do you have to go through, do you need approval of some ministry, what are the costs of firing workers, that if you do lay them off, what do you've got to pay them? Each of them needs to be kind of quantified, because labor laws are very long, there's lots of chapters and things like that, so we're trying to come up with a nice system of quantification of these four dimensions of the labor laws, and then aggregating them into a single dimension. A key takeaway is to have policy, labor market regulation policy, that's designed in such a way as to be somewhat differentiated, perhaps between different industries, between different types of countries. We've tried to get, you might say, a toolbox that we have quantifications of what the rules are, so that we can track their effects over time as carefully as possible, and recognizing that some of the effects of any type of regulation are going to be beneficial for some dimensions, but not beneficial in other directions, and therefore we want to find what's the best mix. What we want to do is to then take these measures that we have of everything, tie it together to performance, and then we could have a policy set of policies that would seem to fit individual country situations, so as to get the best out of everything, of growth, of low unemployment, of being able to take advantages of trade, to bring people into the formal sector so they pay taxes, and people can get the advantages of capital formation.