The GDP Impact of Reform: A Simple Simulation Framework
This paper presents a framework to assess the impact of a wide range of structural policy reforms on GDP per capita at various horizons by linking together previous empirical studies mostly carried out by the OECD. The simple accounting framework consists of reduced-form equations and offers a more...
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| Format: | Elektronisch E-Book |
| Sprache: | English |
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Paris
OECD Publishing
2013
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| Schriftenreihe: | OECD Economics Department Working Papers
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| Schlagworte: | |
| Online-Zugang: | UBA01 UBG01 UEI01 UER01 UPA01 UBR01 UBW01 FFW01 FNU01 EUV01 FRO01 FHR01 FHN01 TUM01 FHI01 UBM01 Volltext |
| Zusammenfassung: | This paper presents a framework to assess the impact of a wide range of structural policy reforms on GDP per capita at various horizons by linking together previous empirical studies mostly carried out by the OECD. The simple accounting framework consists of reduced-form equations and offers a more tractable and realistic alternative to an estimated general equilibrium model. Though this involves some risks of double counting the effects of certain reforms and omits interactions across different policy areas, the plausible scenarios suggest that the largest long-run GDP per capita gains may be obtained from reforms that would raise the quantity and quality of education, strengthen competition in product markets, reduce the level and/or duration of unemployment benefits, cut labour tax wedges and relax employment protection legislation. Past reforms in these areas might also have contributed to as much as half of GDP per capita growth in OECD countries in the decade prior to the recent financial and economic crisis. Simulations further indicate that addressing all policy weaknesses in each OECD country by aligning policy settings on the OECD average could raise GDP per capita by as much as 25% in the typical country |
| Beschreibung: | 1 Online-Ressource (48 Seiten) 21 x 29.7cm |
| DOI: | 10.1787/5kgk9qjnhkmt-en |
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| spelling | Barnes, Sebastian Verfasser aut The GDP Impact of Reform A Simple Simulation Framework Sebastian Barnes ... [et al] = L'impact des réformes sur le PIB : un cadre simple de simulation / Sebastian Barnes ... [et al] L'impact des réformes sur le PIB Paris OECD Publishing 2013 1 Online-Ressource (48 Seiten) 21 x 29.7cm txt rdacontent c rdamedia cr rdacarrier OECD Economics Department Working Papers This paper presents a framework to assess the impact of a wide range of structural policy reforms on GDP per capita at various horizons by linking together previous empirical studies mostly carried out by the OECD. The simple accounting framework consists of reduced-form equations and offers a more tractable and realistic alternative to an estimated general equilibrium model. Though this involves some risks of double counting the effects of certain reforms and omits interactions across different policy areas, the plausible scenarios suggest that the largest long-run GDP per capita gains may be obtained from reforms that would raise the quantity and quality of education, strengthen competition in product markets, reduce the level and/or duration of unemployment benefits, cut labour tax wedges and relax employment protection legislation. Past reforms in these areas might also have contributed to as much as half of GDP per capita growth in OECD countries in the decade prior to the recent financial and economic crisis. Simulations further indicate that addressing all policy weaknesses in each OECD country by aligning policy settings on the OECD average could raise GDP per capita by as much as 25% in the typical country Economics Bouis, Romain ctb Briard, Philippe ctb Dougherty, Sean ctb https://doi.org/10.1787/5kgk9qjnhkmt-en Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Barnes, Sebastian The GDP Impact of Reform A Simple Simulation Framework Economics |
| title | The GDP Impact of Reform A Simple Simulation Framework |
| title_alt | L'impact des réformes sur le PIB |
| title_auth | The GDP Impact of Reform A Simple Simulation Framework |
| title_exact_search | The GDP Impact of Reform A Simple Simulation Framework |
| title_exact_search_txtP | The GDP Impact of Reform A Simple Simulation Framework |
| title_full | The GDP Impact of Reform A Simple Simulation Framework Sebastian Barnes ... [et al] = L'impact des réformes sur le PIB : un cadre simple de simulation / Sebastian Barnes ... [et al] |
| title_fullStr | The GDP Impact of Reform A Simple Simulation Framework Sebastian Barnes ... [et al] = L'impact des réformes sur le PIB : un cadre simple de simulation / Sebastian Barnes ... [et al] |
| title_full_unstemmed | The GDP Impact of Reform A Simple Simulation Framework Sebastian Barnes ... [et al] = L'impact des réformes sur le PIB : un cadre simple de simulation / Sebastian Barnes ... [et al] |
| title_short | The GDP Impact of Reform |
| title_sort | the gdp impact of reform a simple simulation framework |
| title_sub | A Simple Simulation Framework |
| topic | Economics |
| topic_facet | Economics |
| url | https://doi.org/10.1787/5kgk9qjnhkmt-en |
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