Labor and product market reforms in advanced economies :: fiscal costs, gains, and support /
Product and labor market reforms are needed to lift persistently sluggish growth in advanced economies. But reforms have progressed slowly because of concerns about their distributive and short-term economic effects. Our analysis, based on new empirical and numerical analysis and country case-studie...
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| Hauptverfasser: | , , , , , , , |
|---|---|
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Washington, D.C. :
International Monetary Fund,
2017.
|
| Schriftenreihe: | IMF staff discussion note ;
SDN/17/03. |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | Product and labor market reforms are needed to lift persistently sluggish growth in advanced economies. But reforms have progressed slowly because of concerns about their distributive and short-term economic effects. Our analysis, based on new empirical and numerical analysis and country case-studies shows that most labor and product market reforms can improve public debt dynamics over the medium-term. This because reforms raise output by boosting employment and/or labor productivity. But the effect of some labor market reforms on budgetary outcomes and fiscal sustainability depends critically on business cycle conditions. Our evidence also suggests that some temporary and well-designed up-front fiscal stimulus can help enhance the economic impact of reforms. In the past, countries have used fiscal incentives in the past to facilitate reforms by alleviating transition and social costs. But strong ownership of reforms was crucial for their successful implementation. |
| Beschreibung: | 1 online resource : illustrations. |
| Bibliographie: | Includes bibliographical references (pages 30-32). |
| ISBN: | 147558508X 9781475585087 9781475583977 1475583974 |
| ISSN: | 2221-030X |
Internformat
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| 520 | 3 | |a Product and labor market reforms are needed to lift persistently sluggish growth in advanced economies. But reforms have progressed slowly because of concerns about their distributive and short-term economic effects. Our analysis, based on new empirical and numerical analysis and country case-studies shows that most labor and product market reforms can improve public debt dynamics over the medium-term. This because reforms raise output by boosting employment and/or labor productivity. But the effect of some labor market reforms on budgetary outcomes and fiscal sustainability depends critically on business cycle conditions. Our evidence also suggests that some temporary and well-designed up-front fiscal stimulus can help enhance the economic impact of reforms. In the past, countries have used fiscal incentives in the past to facilitate reforms by alleviating transition and social costs. But strong ownership of reforms was crucial for their successful implementation. | |
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| indexdate | 2024-11-27T13:27:47Z |
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| spelling | Banerji, Angana. author. Labor and product market reforms in advanced economies : fiscal costs, gains, and support / Angana Banerji, Valerio Crispolti, Era Dabla-Norris, Romain Duval, Christian Ebeke, Davide Furceri, Takuji Komatsuzaki, and Tigran Poghosyan. Washington, D.C. : International Monetary Fund, 2017. 1 online resource : illustrations. text txt rdacontent computer c rdamedia online resource cr rdacarrier IMF staff discussion note ; SDN/17/03 Includes bibliographical references (pages 30-32). Product and labor market reforms are needed to lift persistently sluggish growth in advanced economies. But reforms have progressed slowly because of concerns about their distributive and short-term economic effects. Our analysis, based on new empirical and numerical analysis and country case-studies shows that most labor and product market reforms can improve public debt dynamics over the medium-term. This because reforms raise output by boosting employment and/or labor productivity. But the effect of some labor market reforms on budgetary outcomes and fiscal sustainability depends critically on business cycle conditions. Our evidence also suggests that some temporary and well-designed up-front fiscal stimulus can help enhance the economic impact of reforms. In the past, countries have used fiscal incentives in the past to facilitate reforms by alleviating transition and social costs. But strong ownership of reforms was crucial for their successful implementation. Manpower policy. http://id.loc.gov/authorities/subjects/sh85080626 Personnel management. http://id.loc.gov/authorities/subjects/sh85100143 Personnel Management https://id.nlm.nih.gov/mesh/D010559 Emploi Politique gouvernementale. Personnel Direction. BUSINESS & ECONOMICS / Labor. bisacsh POLITICAL SCIENCE / Labor & Industrial Relations. bisacsh Personnel management fast Manpower policy fast Debts, Public fast Fiscal policy fast Labor market fast Structural adjustment (Economic policy) fast Crispolti, V. (Valerio), author. https://id.oclc.org/worldcat/entity/E39PCjHkY6bK66wPgtWr96PDC3 http://id.loc.gov/authorities/names/no2006025842 Dabla-Norris, Era. author. Duval, Romain. author. Ebeke, Christian. author. Furceri, Davide. author. Komatsuzaki, Takuji. author. Poghosyan, Tigran. author. has work: Labor and product market reforms in advanced economies (Text) https://id.oclc.org/worldcat/entity/E39PCFFdrQHVTgYKpfM8GF8QYK https://id.oclc.org/worldcat/ontology/hasWork Print Version: Banerji, Angana Labor and Product Market Reforms in Advanced Economies: Fiscal Costs, Gains, and Support Washington, D.C. : International Monetary Fund,2017 9781475583977 IMF staff discussion note ; SDN/17/03. http://id.loc.gov/authorities/names/no2011013696 FWS01 ZDB-4-EBA FWS_PDA_EBA https://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=1505078 Volltext |
| spellingShingle | Banerji, Angana Crispolti, V. (Valerio) Dabla-Norris, Era Duval, Romain Ebeke, Christian Furceri, Davide Komatsuzaki, Takuji Poghosyan, Tigran Labor and product market reforms in advanced economies : fiscal costs, gains, and support / IMF staff discussion note ; Manpower policy. http://id.loc.gov/authorities/subjects/sh85080626 Personnel management. http://id.loc.gov/authorities/subjects/sh85100143 Personnel Management https://id.nlm.nih.gov/mesh/D010559 Emploi Politique gouvernementale. Personnel Direction. BUSINESS & ECONOMICS / Labor. bisacsh POLITICAL SCIENCE / Labor & Industrial Relations. bisacsh Personnel management fast Manpower policy fast Debts, Public fast Fiscal policy fast Labor market fast Structural adjustment (Economic policy) fast |
| subject_GND | http://id.loc.gov/authorities/subjects/sh85080626 http://id.loc.gov/authorities/subjects/sh85100143 https://id.nlm.nih.gov/mesh/D010559 |
| title | Labor and product market reforms in advanced economies : fiscal costs, gains, and support / |
| title_auth | Labor and product market reforms in advanced economies : fiscal costs, gains, and support / |
| title_exact_search | Labor and product market reforms in advanced economies : fiscal costs, gains, and support / |
| title_full | Labor and product market reforms in advanced economies : fiscal costs, gains, and support / Angana Banerji, Valerio Crispolti, Era Dabla-Norris, Romain Duval, Christian Ebeke, Davide Furceri, Takuji Komatsuzaki, and Tigran Poghosyan. |
| title_fullStr | Labor and product market reforms in advanced economies : fiscal costs, gains, and support / Angana Banerji, Valerio Crispolti, Era Dabla-Norris, Romain Duval, Christian Ebeke, Davide Furceri, Takuji Komatsuzaki, and Tigran Poghosyan. |
| title_full_unstemmed | Labor and product market reforms in advanced economies : fiscal costs, gains, and support / Angana Banerji, Valerio Crispolti, Era Dabla-Norris, Romain Duval, Christian Ebeke, Davide Furceri, Takuji Komatsuzaki, and Tigran Poghosyan. |
| title_short | Labor and product market reforms in advanced economies : |
| title_sort | labor and product market reforms in advanced economies fiscal costs gains and support |
| title_sub | fiscal costs, gains, and support / |
| topic | Manpower policy. http://id.loc.gov/authorities/subjects/sh85080626 Personnel management. http://id.loc.gov/authorities/subjects/sh85100143 Personnel Management https://id.nlm.nih.gov/mesh/D010559 Emploi Politique gouvernementale. Personnel Direction. BUSINESS & ECONOMICS / Labor. bisacsh POLITICAL SCIENCE / Labor & Industrial Relations. bisacsh Personnel management fast Manpower policy fast Debts, Public fast Fiscal policy fast Labor market fast Structural adjustment (Economic policy) fast |
| topic_facet | Manpower policy. Personnel management. Personnel Management Emploi Politique gouvernementale. Personnel Direction. BUSINESS & ECONOMICS / Labor. POLITICAL SCIENCE / Labor & Industrial Relations. Personnel management Manpower policy Debts, Public Fiscal policy Labor market Structural adjustment (Economic policy) |
| url | https://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=1505078 |
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