When Do Structural Reforms Work? On the Role of the Business Cycle and Macroeconomic Policies - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook When Do Structural Reforms Work? On the Role of the Business Cycle and Macroeconomic Policies write by MissAnna Rose Bordon. This book was released on 2016-03-15. When Do Structural Reforms Work? On the Role of the Business Cycle and Macroeconomic Policies available in PDF, EPUB and Kindle. Structural reforms are expected to lift growth and employment, but their effects are surprisingly difficult to pin down empirically. One reason is their potential endogeneity to the economic environment in which they are conducted. For example, the impact of a reform implemented shortly before a cyclical upswing is difficult to distinguish from the recovery itself. Similarly, macroeconomic policies conducted along a structural reform could affect the estimated impact. Exploring various options, this paper develops robust estimates of the impact of labor and product market reforms by using local projection techniques while controlling for endogeneity of reforms and other biases. The results suggest that labor and product market reforms have a lagged but positive impact on employment creation, and the positive effect remains even after controlling for the endogeneity of the decision to reform. Supportive macroeconomic policies are found to increase the effect of labor and product market reforms, consistent with the view that some structural reforms are best initiated in conjunction with supportive fiscal or monetary policy.
When Do Structural Reforms Work?
When Do Structural Reforms Work? - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook When Do Structural Reforms Work? write by Anna Rose Bordon. This book was released on 2016. When Do Structural Reforms Work? available in PDF, EPUB and Kindle.
Structural Reform and Macroeconomic Policy
Structural Reform and Macroeconomic Policy - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Structural Reform and Macroeconomic Policy write by R. Solow. This book was released on 2004-06-29. Structural Reform and Macroeconomic Policy available in PDF, EPUB and Kindle. The relation between structural reform and macroeconomic policy underlies the widespread perception that the large European economies have under-performed in the past decade in comparison both with their own standards and with the contemporaneous performance of the United States. This book, edited and introduced by Noel Laureate Robert M. Solow, provides analyses of how these economies could take a co-ordinated and simultaneous approach to reform in labour and product markets and the demand side.
Structural Reforms
Structural Reforms - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Structural Reforms write by Jakob de Haan. This book was released on 2018-03-22. Structural Reforms available in PDF, EPUB and Kindle. This book presents a selection of contributions on the timely topic of structural reforms in Western economies, written by experts from central banks, the International Monetary Fund, and leading universities. It includes latest research on the impacts of structural reforms on the market economy, especially on the labor market, and investigates the results of collective bargaining in theory and practice. The book also comprises case studies of structural reforms. A literature survey on the topic serves as a valuable source for further research. The book is written by and targeted at both academics and policy makers.
Market Reforms at the Zero Lower Bound
Market Reforms at the Zero Lower Bound - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Market Reforms at the Zero Lower Bound write by Matteo Cacciatore. This book was released on 2017-10-03. Market Reforms at the Zero Lower Bound available in PDF, EPUB and Kindle. This paper studies the impact of product and labor market reforms when the economy faces major slack and a binding constraint on monetary policy easing. such as the zero lower bound. To this end, we build a two-country model with endogenous producer entry, labor market frictions, and nominal rigidities. We find that while the effect of market reforms depends on the cyclical conditions under which they are implemented, the zero lower bound itself does not appear to matter. In fact, when carried out in a recession, the impact of reforms is typically stronger when the zero lower bound is binding. The reason is that reforms are inflationary in our structural model (or they have no noticeable deflationary effects). Thus, contrary to the implications of reduced-form modeling of product and labor market reforms as exogenous reductions in price and wage markups, our analysis shows that there is no simple across-the-board relationship between market reforms and the behavior of real marginal costs. This significantly alters the consequences of the zero (or any effective) lower bound on policy rates.
