Assessing The Macroeconomic Impact Of Structural Reforms The Case Of Italy
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| Author | : Ms.Lusine Lusinyan |
| Publisher | : International Monetary Fund |
| Total Pages | : 59 |
| Release | : 2013-01-24 |
| Genre | : Business & Economics |
| ISBN | : 1475575017 |
Wide-ranging structural reforms are underway in Italy, aimed at addressing key bottlenecks in the product and labor markets. Our analysis, based on the IMF‘s Global Integrated Monetary and Fiscal model (GIMF), attempts to quantify the potential gains to the economy from a comprehensive package of structural reforms. We find that these gains can be sizeable. While in most cases, the reforms go in the right direction, their impact would depend on effective and timely implementation. In some areas, especially in the labor market, reforms would benefit from further strengthening. The priorities should be to strengthen competition in the non-tradable sector and make the labor market more efficient and inclusive, supported by growth-friendly fiscal reforms.
| Author | : Jakob de Haan |
| Publisher | : Springer |
| Total Pages | : 293 |
| Release | : 2018-03-22 |
| Genre | : Political Science |
| ISBN | : 3319744003 |
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.
| Author | : OECD |
| Publisher | : OECD Publishing |
| Total Pages | : 152 |
| Release | : 2016-02-26 |
| Genre | : |
| ISBN | : 9264250085 |
Going for Growth is the OECD’s regular report on structural reforms in policy areas that have been identified as priorities to boost incomes in OECD and selected non-OECD countries (Brazil, China, Colombia, India, Indonesia, Latvia, Russian Federation and South Africa).
| Author | : Mariana Colacelli |
| Publisher | : International Monetary Fund |
| Total Pages | : 44 |
| Release | : 2018-11-28 |
| Genre | : Business & Economics |
| ISBN | : 1484384733 |
Yes, partly. This paper studies the potential role of structural reforms in improving Japan’s outlook using the IMF’s Global Integrated Monetary and Fiscal Model (GIMF) with newly-added demographic features. Implementation of a not-fully-believed path of structural reforms can significantly offset the adverse effect of Japan’s demographic headwinds — a declining and ageing population — on real GDP (by about 15 percent in the next 40 years), but would not boost inflation or contribute substantially to stabilizing public debt. Alternatively, implementation of a fully-credible structural reform program can contribute significantly to stabilizing public debt because of the resulting increase in inflation towards the Bank of Japan’s target, while achieving the same positive long-run effects on real GDP. If no reforms are implemented, severe demographic headwinds are expected to reduce Japan’s real GDP by over 25 percent in the next 40 years.
| Author | : OECD |
| Publisher | : OECD Publishing |
| Total Pages | : 344 |
| Release | : 2015-02-09 |
| Genre | : |
| ISBN | : 9264220461 |
This publication is the OECD’s annual report highlighting developments in structural policies in OECD countries and the key emerging economies.
| Author | : Zsuzsa Munkacsi |
| Publisher | : International Monetary Fund |
| Total Pages | : 54 |
| Release | : 2017-05-26 |
| Genre | : Business & Economics |
| ISBN | : 1484302109 |
This paper explores the macroeconomic impacts of labor and product market deregulation using a small open-economy model with formal and informal markets. We examine both the long-run effects and the transition towards the post-reform equilibrium, while our main focus are reform packages and sequencing. The unofficial sector is a major determinant of the sign, and, in particular, the magnitude of responses. South Africa, an emerging country, is considered when Bayesian estimating the model. Regarding the long run, both labor and product market reforms considerably increase output, although labor market reforms are more successful in decreasing unemployment. Nevertheless, there are short-term costs, for example, a decrease in household consumption, net exports or output, or a decrease in competition. Combining reforms, especially with product market deregulation, are good at reducing short-term costs. Finally, concerning the speed of adjustment, it is usually better to start with a labor market reform.
| Author | : OECD |
| Publisher | : OECD Publishing |
| Total Pages | : 125 |
| Release | : 2013-05-02 |
| Genre | : |
| ISBN | : 9264182497 |
OECD's 2013 Economic Survey of Italy examines recent economic developments, policy and prospects. Its special chapter examines policy implemention: legislation, public administration and rule of law.
| Author | : Galina Kolev |
| Publisher | : Wilfried Martens Centre for European Studies |
| Total Pages | : 108 |
| Release | : 2013-05-10 |
| Genre | : Political Science |
| ISBN | : 2930632291 |
PDF downloadable for free from http://martenscentre.eu/publications/smart-fiscal-consolidation-strategy-achieving-sustainable-public-finances-and-growth Due to high government debt levels and the dangers of self-defeating austerity, smart fiscal consolidation measures are needed that foster economic growth. A thorough review of the relevant literature provides many useful insights. To regain credibility, a clearly communicated broad reform program (including structural reforms) is required. Targeting mainly public expenditures, rather than revenues, raises the chances of expansionary effects. The timing of consolidation should focus on adjustment in structural terms to leave room for automatic stabilisers. The main part of the study evaluates the impact of individual consolidation and fiscal reform measures on consolidation success, on economic growth (in the long and short term), and on social fairness.
| Author | : Luigi Paganetto |
| Publisher | : Springer |
| Total Pages | : 300 |
| Release | : 2015-04-09 |
| Genre | : Business & Economics |
| ISBN | : 331914099X |
This book explores the reasons behind Europe’s poor performance in terms of overall growth and its progressively diminishing role in the global context. Recognizing that the big challenge is to restore confidence and hope in Europe, potential solutions are discussed. The volume comprises a selection of contributions to the XXVI Villa Mondragone International Economic Seminar (Rome, 2014), the most recent of a series of seminars that have provided outstanding scholars with an opportunity to discuss key topics in economic research. In recent years the persistence of high unemployment and low growth has increased the Euroscepticism that has targeted the euro and the Brussels bureaucracy. Readers will find this book a fascinating source of information on current thinking regarding topics such as European industrial policy, European governance, unemployment, the euro and competitiveness, trade and financial integration, the Transatlantic Trade and Investment Partnership, anticorruption policies, and energy and climate policies. In particular, it examines the structural reforms and commitment to development that will be required for Europe to become a region characterized by social justice, dynamism, and opportunities for all.
| Author | : Jorge M. Katz |
| Publisher | : United Nations Publications |
| Total Pages | : 164 |
| Release | : 2001 |
| Genre | : Business & Economics |
| ISBN | : |
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.
