Fig. 2

Predicted probabilities of the adjustment channels being ‘Relevant’ by country (all countries, a subset of channels). Note: For Slovenia, the effect for firms without MW employees is rather hypothetical, assuming that Slovenian firms (with their characteristics taken into account) would react as firms without MW employees in other countries without actually having the actual responses of Slovenian firms without MW employees included in the sample. Authors’ calculations using the multivariate probit model presented in Table 6