When Do Structural Reforms Work On The Role Of The Business Cycle And Macroeconomic Policies
Download When Do Structural Reforms Work On The Role Of The Business Cycle And Macroeconomic Policies full books in PDF, epub, and Kindle. Read online free When Do Structural Reforms Work On The Role Of The Business Cycle And Macroeconomic Policies ebook anywhere anytime directly on your device. Fast Download speed and no annoying ads. We cannot guarantee that every ebooks is available!
| Author | : MissAnna Rose Bordon |
| Publisher | : International Monetary Fund |
| Total Pages | : 28 |
| Release | : 2016-03-15 |
| Genre | : Business & Economics |
| ISBN | : 151358992X |
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 | : Anna Rose Bordon |
| Publisher | : |
| Total Pages | : |
| Release | : 2016 |
| Genre | : Business cycles |
| ISBN | : 9781513591216 |
Download When Do Structural Reforms Work? Book in PDF, Epub and Kindle
| 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 | : 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 | : Matteo Cacciatore |
| Publisher | : International Monetary Fund |
| Total Pages | : 65 |
| Release | : 2017-10-03 |
| Genre | : Business & Economics |
| ISBN | : 1484324269 |
Download Market Reforms at the Zero Lower Bound Book 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.
| Author | : Ms.Valerie Cerra |
| Publisher | : International Monetary Fund |
| Total Pages | : 50 |
| Release | : 2020-05-29 |
| Genre | : Business & Economics |
| ISBN | : 1513536990 |
Download Hysteresis and Business Cycles Book in PDF, Epub and Kindle
Traditionally, economic growth and business cycles have been treated independently. However, the dependence of GDP levels on its history of shocks, what economists refer to as “hysteresis,” argues for unifying the analysis of growth and cycles. In this paper, we review the recent empirical and theoretical literature that motivate this paradigm shift. The renewed interest in hysteresis has been sparked by the persistence of the Global Financial Crisis and fears of a slow recovery from the Covid-19 crisis. The findings of the recent literature have far-reaching conceptual and policy implications. In recessions, monetary and fiscal policies need to be more active to avoid the permanent scars of a downturn. And in good times, running a high-pressure economy could have permanent positive effects.
| Author | : Gilles Saint-Paul |
| Publisher | : |
| Total Pages | : 20 |
| Release | : 2002 |
| Genre | : |
| ISBN | : |
Download Some Thoughts on Macroeconomic Fluctuations and the Timing of Labor Market Reform Book in PDF, Epub and Kindle
| Author | : Wilfried A. Kouamé |
| Publisher | : International Monetary Fund |
| Total Pages | : 42 |
| Release | : 2018-03-19 |
| Genre | : Business & Economics |
| ISBN | : 1484347005 |
Download Structural Reforms and Firms’ Productivity: Evidence from Developing Countries Book in PDF, Epub and Kindle
This paper assesses the effects of structural reforms on firm-level productivity for 37 developing countries from 2006 to 2014 period. It takes advantage of the IMF Monitoring of Fund Arrangements dataset for reform indexes and the World Bank Enterprise Surveys for firm-level productivity. The paper highlights the following results. Structural reforms such as financial, fiscal, real sector, and trade reforms, significantly improve firm-level productivity. Interestingly, real sector reforms have the most sizeable effects on firm-level productivity. The relationship between structural reforms and firm-level productivity is nonlinear and shaped by some firms’ characteristics such as the financial access, the distortionary environment, and the size of firms. The pace of structural reforms matters since being a “strong reformer” is associated with a clear productivity dividend for firms. Finally, except for financial and trade reforms, all structural reforms under consideration are bilaterally complementary in improving firm-level productivity. These findings are robust to several sensitivity checks.
| Author | : Paul de Grauwe |
| Publisher | : |
| Total Pages | : 0 |
| Release | : 2017 |
| Genre | : Business cycles |
| ISBN | : |
Download Structural Reforms and Monetary Policies in a Behavioural Macroeconomic Model Book in PDF, Epub and Kindle
Abstract: We use a New Keynesian behavioral macroeconomic model to analyze how structural reforms affect the nature of the business cycle and the capacity of the central bank to stabilize output and inflation. We find that structural reforms that increase the flexibility of wages and prices can have profound effects on the dynamics of the business cycle. Our main finding here is that there is an optimal level of flexibility (produced by structural reforms). We also find that in a rigid economy the central bank in general faces a tradeoff between output and inflation volatility. This tradeoff disappears when the economy becomes sufficiently flexible. In that case the central bank's efforts at stabilizing inflation and output are always welfare improving.
| Author | : Jorge M. Katz |
| Publisher | : United Nations Publications |
| Total Pages | : 164 |
| Release | : 2001 |
| Genre | : Business & Economics |
| ISBN | : |
Download Structural Reforms, Productivity and Technological Change in Latin America Book in PDF, Epub and Kindle
In the last ten to fifteen years, profound structural reforms have moved Latin America and the Caribbean from closed, state-dominated economies to ones that are more market-oriented and open. Policymakers expected that these changes would speed up growth. This book is part of a multi-year project to determine whether these expectation have been fulfilled. Focusing on technological change, the impact of the reforms on the process of innovation is examined. It notes that the development process is proving to be highly heterogenous across industries, regions and firms and can be described as strongly inequitable. This differentiation that has emerged has implications for job creation, trade balance, and the role of small and medium sized firms. This ultimately suggests, amongst other things, the need for policies to better spread the use of new technologies.
