Structural Reform And Macroeconomic Policy
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Author | : MissAnna Rose Bordon |
Publisher | : International Monetary Fund |
Total Pages | : 28 |
Release | : 2016-03-15 |
Genre | : Business & Economics |
ISBN | : 1513590243 |
Download When Do Structural Reforms Work? On the Role of the Business Cycle and Macroeconomic Policies Book 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.
Author | : R. Solow |
Publisher | : Springer |
Total Pages | : 180 |
Release | : 2004-06-29 |
Genre | : Business & Economics |
ISBN | : 0230524443 |
Download Structural Reform and Macroeconomic Policy Book 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.
Author | : International Monetary Fund |
Publisher | : International Monetary Fund |
Total Pages | : 28 |
Release | : 2015-10-14 |
Genre | : Business & Economics |
ISBN | : 1498344100 |
Download Structural Reforms and Macroeconomic Performance - Country Cases Book in PDF, Epub and Kindle
As a companion piece to the Board paper on Structural Reforms and Macroeconomic Performance: Initial Considerations for the Fund, this paper presents a selection of case studies on the structural reform experiences of member countries. These papers update the Board on work since the Triennial Surveillance Review toward strengthening the Fund’s capacity to analyze and, where relevant, offer policy advice on macro-relevant structural issues. The paper builds on the already considerable analytical work underway across the Fund, setting out considerations to support a more strategic approach going forward.
Author | : Organisation for Economic Co-operation and Development |
Publisher | : OECD |
Total Pages | : 356 |
Release | : 1996 |
Genre | : Business & Economics |
ISBN | : |
Download Macroeconomic Policies and Structural Reform Book in PDF, Epub and Kindle
Contains the papers presented at the international conference "Interactions between structural reform, macroeconomic policies and economic performance" & summarises discussions held. Part of the follow-up programme of work [from] the OECD jobs study. - On cover: OECD proceedings
Author | : International Monetary Fund |
Publisher | : International Monetary Fund |
Total Pages | : 64 |
Release | : 2015-10-14 |
Genre | : Business & Economics |
ISBN | : 1498344119 |
Download Structural Reforms and Macroeconomic Performance - Initial Considerations for the Fund Book in PDF, Epub and Kindle
Structural policies have become a prominent feature of today’s macroeconomic policy discussion. For many countries, lackluster economic growth and high unemployment cloud the outlook. With fewer traditional policy options, policymakers are increasingly focused on the complementary role of structural policies in promoting more durable job-rich growth. In particular, the G20 has emphasized the essential role of structural reforms in ensuring strong, sustainable and balanced growth. Against this backdrop, the 2014 Triennial Surveillance Review (TSR) called for further work to enhance the Fund’s ability to selectively provide more expert analysis and advice on structural issues, particularly where there is broad interest among member countries. The purpose of this paper is to engage the Board on staff’s post-TSR work toward strengthening the Fund’s capacity to analyze and, where relevant, offer policy advice on macro-relevant structural issues.
Author | : OECD |
Publisher | : OECD Publishing |
Total Pages | : 327 |
Release | : 1996-12-10 |
Genre | : |
ISBN | : 9264062173 |
Download Macroeconomic Policies and Structural Reform Book in PDF, Epub and Kindle
Faced with increased unemployment, declining productivity and weak public finances, most OECD countries have adopted policies of fiscal consolidation and structural reform in goods, labour and financial markets. Price stability is now at hand, but ...
Author | : Jakob de Haan |
Publisher | : Springer |
Total Pages | : 293 |
Release | : 2018-03-22 |
Genre | : Political Science |
ISBN | : 3319744003 |
Download Structural Reforms Book 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.
Author | : Anne O. Krueger |
Publisher | : University of Chicago Press |
Total Pages | : 634 |
Release | : 2000 |
Genre | : Business & Economics |
ISBN | : 9780226454481 |
Download Economic Policy Reform Book in PDF, Epub and Kindle
"Anne O. Krueger has assembled and deftly summarized an excellent set of papers on the major issues in economic reform in developing countries at the turn of the century."--Stanley Fischer, International Monetary Fund The papers and commentary collected in this volume discuss vital contemporary thinking on economic policy reform--in particular, the difficulties that leave so much of the world mired in poverty. Distinguished contributors address issues ranging from education and privatization to exchange rates and telecommunications reform, providing an excellent overview of the current situation and the possible paths into the future.
Author | : Mr. Anil Ari |
Publisher | : International Monetary Fund |
Total Pages | : 37 |
Release | : 2021-04-23 |
Genre | : Business & Economics |
ISBN | : 1513582585 |
Download Assessing the Macroeconomic Impact of Structural Reforms in Ukraine Book in PDF, Epub and Kindle
Ukraine’s economic performance has been anemic since the early 1990s. A major impediment to productivity growth has been low investment, held back by lack of strong and independent institutions. This paper aims to assess the major areas of institutional weakness in Ukraine and quantify the long-term growth impact of catching-up to Poland in terms of the quality of major economic institutions and market development. Our analysis identifies the legal system as the area where the institutional quality is weakest compared to Poland, followed distantly by market competition, openness to trade and financial depth. Using a methodology that accounts for positive spillovers between the structural reform areas, we estimate that even under the most optimistic scenario, where institutional gaps are fully addressed, Ukraine would need 15 years to catch up to Poland’s current income level.
Author | : Metodij Hadzi-Vaskov |
Publisher | : International Monetary Fund |
Total Pages | : 25 |
Release | : 2018-12-14 |
Genre | : Business & Economics |
ISBN | : 1484392507 |
Download Assessing the Macroeconomic Impact of Structural Reforms in Chile Book in PDF, Epub and Kindle
This study investigates the likely macroeconomic impact of various structural reforms that align the Chilean regulatory framework with international best practices. In this context, the analysis: i) presents a comparison across a large set of structural indicators; ii) identifies policy gaps with respect to OECD countries; and iii) provides quantification of the likely growth and fiscal impact of policy reforms needed to close the gaps. Chile’s economy is likely to benefit from streamlining business regulation and licensing, strengthening innovation and R&D capacity, improving labor market flexibility, and enhancing active labor market policies. Overall, the study presents a scenario in which Chile closes structural gaps with OECD’s 25th percentile over five years, with up to 6 percent higher output level and a cumulative net fiscal gain of about 1⁄2 percent of GDP.