Download or read book When Do Structural Reforms Work On the Role of the Business Cycle and Macroeconomic Policies written by MissAnna Rose Bordon and published by International Monetary Fund. This book was released on 2016-03-15 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Structural Reform and Macroeconomic Policy written by R. Solow and published by Springer. This book was released on 2004-06-29 with total page 180 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Structural Reforms and Macroeconomic Performance Country Cases written by International Monetary Fund and published by International Monetary Fund. This book was released on 2015-10-14 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Macroeconomic Policies and Structural Reform written by Organisation for Economic Co-operation and Development and published by OECD. This book was released on 1996 with total page 356 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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
Download or read book Structural Reforms and Macroeconomic Performance Initial Considerations for the Fund written by International Monetary Fund and published by International Monetary Fund. This book was released on 2015-10-14 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Structural Reforms written by Jakob de Haan and published by Springer. This book was released on 2018-03-22 with total page 293 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Macroeconomic Policies and Structural Reform written by OECD and published by OECD Publishing. This book was released on 1996-12-10 with total page 327 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 ...
Download or read book Economic Policy Reform written by Anne O. Krueger and published by University of Chicago Press. This book was released on 2000 with total page 634 pages. Available in PDF, EPUB and Kindle. Book excerpt: "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.
Download or read book Assessing the Macroeconomic Impact of Structural Reforms in Ukraine written by Mr. Anil Ari and published by International Monetary Fund. This book was released on 2021-04-23 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Structural Reforms and Economic Performance in Advanced and Developing Countries written by Mr.Jonathan David Ostry and published by International Monetary Fund. This book was released on 2009-10-15 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume examines the impact on economic performance of structural policies-policies that increase the role of market forces and competition in the economy, while maintaining appropriate regulatory frameworks. The results reflect a new dataset covering reforms of domestic product markets, international trade, the domestic financial sector, and the external capital account, in 91 developed and developing countries. Among the key results of this study, the authors find that real and financial reforms (and, in particular, domestic financial liberalization, trade liberalization, and agricultural liberalization) boost income growth. However, growth effects differ significantly across alternative reform sequencing strategies: a trade-before-capital-account strategy achieves better outcomes than the reverse, or even than a "big bang"; also, liberalizing the domestic financial sector together with the external capital account is growth-enhancing, provided the economy is relatively open to international trade. Finally, relatively liberalized domestic financial sectors enhance the economy's resilience, reducing output costs from adverse terms-of-trade and interest-rate shocks; increased credit availability is one of the key mechanisms.
Download or read book Assessing the Macroeconomic Impact of Structural Reforms in Chile written by Metodij Hadzi-Vaskov and published by International Monetary Fund. This book was released on 2018-12-14 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Macroeconomic Policies and Structural Reform written by and published by . This book was released on 1996 with total page 342 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Structural Reforms Productivity and Technological Change in Latin America written by Jorge M. Katz and published by United Nations Publications. This book was released on 2001 with total page 164 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Reconciling Stability and Growth written by Mr.Roel M. W. J. Beetsma and published by International Monetary Fund. This book was released on 2003-09-01 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes the decision of a government facing electoral uncertainty to implement structural reforms in the presence of fiscal restraints similar to the Stability and Growth Pact. The model shows that a pact may harm structural reforms, sacrificing future growth for present stability. The welfare gains brought about by a pact depend on a trade-off between the reduction in the deficit bias and the induced reduction in the amount of structural reform. A pact becomes more attractive (“smarter”) if it takes into account the fiscal impact of structural reforms, in line with a recent proposal by the European Commission.
Download or read book On the Impact of Structural Reforms on Output and Employment written by Luiza Antoun de Almeida and published by International Monetary Fund. This book was released on 2018-04-06 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes the effects of selected structural reforms on output and employment in the short and medium term. It uses a comprehensive cross-country firm-level dataset covering both advanced and emerging market economies over the period 2003-2014. In line with previous studies, it finds that structural reforms have in general a positive impact on output and employment in the medium term. Furthermore, the paper also assesses whether the impact of structural reforms varies with firm-specific characteristics, such as size, leverage, profitability, and sector. We find evidence that firm characteristics do influence the effectiveness of structural reforms. These findings have relevant policy implications as they help policymakers tailor the design of structural reforms to maximize their payoffs, taking into account their heterogeneous impact on firms.
Download or read book Economic Policy Reforms 2012 Going for Growth written by OECD and published by OECD Publishing. This book was released on 2012-02-24 with total page 223 pages. Available in PDF, EPUB and Kindle. Book excerpt: Going for Growth is the OECD’s annual report highlighting developments in structural policies in OECD countries. It identifies structural reform priorities to boost real income for each OECD country and key emerging economies.
Download or read book Coordinating Stabilization and Structural Reform written by Mr.Richard C. Bart and published by International Monetary Fund. This book was released on 1994-09-15 with total page 286 pages. Available in PDF, EPUB and Kindle. Book excerpt: This seminar volume, edited by Richard C. Barth, Alan R. Roe, and Chorng-Huey Wong, presents an overview of the links between structural and macroeconomic policies that were addressed in an IMF Institute seminar held in Washington, D.C., in 1993. The most important areas of structural reform are covered: the price system, tax and expenditure policy, exchange rate management, external trade, public enterprises, the financial sector, and social safety nets. Four case studies are presented: China, Poland, Argentina, and the Gambia.