The quantification of structural reforms in OECD countries: A new framework
This document describes and discusses a new supply side framework that quantifies the impact of structural reforms on per capita income in OECD countries. It presents the overall macroeconomic impacts of reforms by aggregating over the effects on physical capital, employment and productivity through...
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Paris
OECD Publishing
2017
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| Schriftenreihe: | OECD Economics Department Working Papers
no.1354 |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | This document describes and discusses a new supply side framework that quantifies the impact of structural reforms on per capita income in OECD countries. It presents the overall macroeconomic impacts of reforms by aggregating over the effects on physical capital, employment and productivity through a production function. On the basis of reforms defined as observed changes in policies, the paper finds that product market regulation has the largest overall single policy impact five years after the reforms. But the combined impact of all labour market policies is considerably larger than that of product market regulation. The paper also shows that policy impacts can differ at different horizons. The overall long-term effects on GDP per capita of policies transiting through capital deepening can be considerably larger than the 5- to 10-year impacts. By contrast, the long-term impact of policies coming only via the employment rate channel materialises at shorter horizon. |
| Beschreibung: | 1 Online-Ressource (43 p.) |
| DOI: | 10.1787/2d887027-en |
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| spelling | Égert, Balázs VerfasserIn aut The quantification of structural reforms in OECD countries A new framework Balázs, Égert and Peter, Gal = La quantification des réformes structurelles dans les pays de l'OCDE : Un nouveau cadre analytique / Balázs, Égert et Peter, Gal La quantification des réformes structurelles dans les pays de l'OCDE Paris OECD Publishing 2017 1 Online-Ressource (43 p.) Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier OECD Economics Department Working Papers no.1354 This document describes and discusses a new supply side framework that quantifies the impact of structural reforms on per capita income in OECD countries. It presents the overall macroeconomic impacts of reforms by aggregating over the effects on physical capital, employment and productivity through a production function. On the basis of reforms defined as observed changes in policies, the paper finds that product market regulation has the largest overall single policy impact five years after the reforms. But the combined impact of all labour market policies is considerably larger than that of product market regulation. The paper also shows that policy impacts can differ at different horizons. The overall long-term effects on GDP per capita of policies transiting through capital deepening can be considerably larger than the 5- to 10-year impacts. By contrast, the long-term impact of policies coming only via the employment rate channel materialises at shorter horizon. Economics Gal, Peter MitwirkendeR ctb FWS01 ZDB-13-SOC FWS_PDA_SOC https://doi.org/10.1787/2d887027-en Volltext |
| spellingShingle | Égert, Balázs The quantification of structural reforms in OECD countries A new framework Economics |
| title | The quantification of structural reforms in OECD countries A new framework |
| title_alt | La quantification des réformes structurelles dans les pays de l'OCDE |
| title_auth | The quantification of structural reforms in OECD countries A new framework |
| title_exact_search | The quantification of structural reforms in OECD countries A new framework |
| title_full | The quantification of structural reforms in OECD countries A new framework Balázs, Égert and Peter, Gal = La quantification des réformes structurelles dans les pays de l'OCDE : Un nouveau cadre analytique / Balázs, Égert et Peter, Gal |
| title_fullStr | The quantification of structural reforms in OECD countries A new framework Balázs, Égert and Peter, Gal = La quantification des réformes structurelles dans les pays de l'OCDE : Un nouveau cadre analytique / Balázs, Égert et Peter, Gal |
| title_full_unstemmed | The quantification of structural reforms in OECD countries A new framework Balázs, Égert and Peter, Gal = La quantification des réformes structurelles dans les pays de l'OCDE : Un nouveau cadre analytique / Balázs, Égert et Peter, Gal |
| title_short | The quantification of structural reforms in OECD countries |
| title_sort | quantification of structural reforms in oecd countries a new framework |
| title_sub | A new framework |
| topic | Economics |
| topic_facet | Economics |
| url | https://doi.org/10.1787/2d887027-en |
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