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Author Banerji, Angana,
Title 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.
Imprint Washington, D.C. : International Monetary Fund, 2017.

Author Banerji, Angana,
Series IMF staff discussion note ; SDN/17/03
IMF staff discussion note ; SDN/17/03.
Subject Manpower policy.
Personnel management.
Alt Name Crispolti, V. (Valerio),
Dabla-Norris, Era,
Duval, Romain,
Ebeke, Christian,
Furceri, Davide,
Komatsuzaki, Takuji,
Poghosyan, Tigran,
Description 1 online resource : illustrations.
Bibliography Note Includes bibliographical references (pages 30-32).
Summary 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.
ISBN 147558508X (electronic bk.)
9781475585087 (electronic bk.)
ISSN 2221-030X
ISBN/ISSN 10.5089/9781475583977.006
OCLC # 983343800
Additional Format 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

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