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!
When Do Structural Reforms Work? On the Role of the Business Cycle and Macroeconomic Policies
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.
When Do Structural Reforms Work? On the Role of the Business Cycle and Macroeconomic Policies Related Books
Pages: 28
Pages:
Pages: 180
Pages: 293
Pages: 65