Reforms And External Imbalances
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Labor And Product Market Reforms And External Imbalances Evidence From Advanced Economies
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Author : Mr.Romain A Duval
language : en
Publisher: International Monetary Fund
Release Date : 2021-02-26
Labor And Product Market Reforms And External Imbalances Evidence From Advanced Economies written by Mr.Romain A Duval and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-02-26 with Business & Economics categories.
We explore the impact of major labor and product market reforms on current account dynamics using a new “narrative” database of major changes in employment protection for regular workers and product market regulation for non-manufacturing industries covering 26 advanced economies over the past four decades. Our main finding is that product market deregulation is associated with a weakening of the current account, while labor market deregulation is associated with an improvement. These effects are transitory and driven by both saving and investment responses. Labor and product market reforms both have a more positive impact on the current account balance when implemented under weak macroeconomic conditions. Our results are broadly consistent with predictions from recent DSGE models with endogenous producer entry and labor market frictions.
Structural Policy Reforms And External Imbalances
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Author : Mike Kennedy
language : en
Publisher:
Release Date : 2004
Structural Policy Reforms And External Imbalances written by Mike Kennedy and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with categories.
Oecd Economic Outlook Volume 2005 Issue 1
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Author : OECD
language : en
Publisher: OECD Publishing
Release Date : 2005-06-30
Oecd Economic Outlook Volume 2005 Issue 1 written by OECD and has been published by OECD Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005-06-30 with categories.
OECD twice-yearly assessment and projections of major economic trends in OECD and major non-OECD countries. This issue includes detailed projections through the end of 2006 and scenarios through 2010 along with an analysis of core inflation.
Economic Crisis And Structural Reforms In Southern Europe
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Author : Paolo Manasse
language : en
Publisher: Routledge
Release Date : 2017-12-12
Economic Crisis And Structural Reforms In Southern Europe written by Paolo Manasse and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-12-12 with Business & Economics categories.
In recent years the countries of southern Europe have undergone, with varying intensity, a serious and prolonged economic crisis. Most have had to implement comprehensive economic adjustment programmes, including a wide range of structural reforms. Economic Crisis and Structural Reforms in Southern Europe examines these reforms, drawing policy lessons from their successes and failures. This book employs two basic strands of analysis: issues of policy design, and political economy considerations. It considers the choice of timing and sequencing of reforms, the choice of the appropriate policy instruments, the pressure of interest groups and the political calculations involved in reforms. Featuring chapters in which contributors explore both national cases of specific structural reforms, and a comparative approach in order to evaluate similar reforms across countries, this important and topical work explores ongoing issues within the economy. Focusing on the challenges of designing and implementing structural reforms under conditions of crisis, this book will be of interest to policy makers and researchers from national and international organizations as well as academics and members of research institutes interested in the economics and politics of the Eurozone crisis.
Structural Policy Reforms And External Imbalances
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Author : Mike Kennedy
language : en
Publisher:
Release Date : 2005
Structural Policy Reforms And External Imbalances written by Mike Kennedy and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with Economics categories.
It has been argued that one solution to global current account imbalances is for countries with current account surpluses to undertake structural reforms. This would raise their potential growth, which is assumed to put downward pressure on the current account position. This paper takes a closer look at how such structural reforms in labour markets, product markets, and financial markets could be expected to affect current accounts. It also tests empirically, using pooled time-series techniques (that control for the influence of relative cyclical positions, government fiscal balances and the real exchange rate), whether or not reforms in these areas would have any significant relationship with current accounts. The overall finding is that indicators of structural reforms do have a significant relationship with the current account but the contribution of these variables to explain current account positions is quite limited ...
Reforms And External Imbalances
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Author : Rabah Arezki
language : en
Publisher: World Bank Publications
Release Date : 2019-03-28
Reforms And External Imbalances written by Rabah Arezki and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-03-28 with Business & Economics categories.
World Bank economists expect GDP growth in the Middle East and North Africa (MENA) to continue at a modest pace of 1.5 percent in 2019, slightly down from 1.6 percent in 2018. The declme reflects a contraction in one large economy, which more than offsets growth in other countries. In the medium term, the World Bank expects real GDP in the MENA to grow at 3.4 percent and 2.7 percent in 2020 and 2021, respectively. The expected upswing is partially driven by ongoing policy reforms, as well as reconstruction efforts in some countries. However, MENA's modest recovery will be insufficient to change its historically low growth in per capita GDP. External factors are unlikely to pull the region out of its low-growth equilibrium. In addition, many countries in the region have persistent current account deficits. A recent deterioration in external balances across MENA constrained the region's ability to finance these deficits. Although the region has a low risk of experiencing sudden reversals in capital inflows in the short run, structural reforms capable of raising aggregate labor productivity are urgently needed to gradually reduce external imbalances. The report concludes by providing examples of reforms in fiscal policies, trade-related policies, social protection and labor markets, and state-owned enterprises (SOEs) in network industries.
Reform Of The International Monetary System Chinese Perspectives And Strategies
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Author : Xiao Li
language : en
Publisher: World Scientific
Release Date : 2021-07-02
Reform Of The International Monetary System Chinese Perspectives And Strategies written by Xiao Li and has been published by World Scientific this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-07-02 with Political Science categories.
This book proposes that the short-term goal of the current reform of the international monetary system should be a combination of controlling 'imbalances' and 'the risk of the dollar', namely using the balance of payments coordination mechanism to suppress risks by exchange rate cooperation. The reforms of international reserve currencies, international financial institutions, and international financial regulation provide a good external environment for the stable development of the world economy. The book discusses the mechanisms that will continue to support the hegemony of the US dollar and the US dollar system in the future, including the commodity dollar return mechanism, the international debt repayment mechanism, the petroleum dollar pricing mechanism and the dollar rescue mechanism in financial crisis. The book predicts that the current international currency system dominated by the US dollar will remain sustainable for a long time. Finally, the book proposes four strategies for China's participation in the reform of the international monetary system.
Understanding Market Reforms
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Author : J. Fanelli
language : en
Publisher: Springer
Release Date : 2006-10-27
Understanding Market Reforms written by J. Fanelli and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-10-27 with Business & Economics categories.
There has been a widespread move toward more market-oriented policies and institutions across the developing and former socialist countries. 31 country studies were undertaken to try to understand the divergent results of these reforms. This book presents the findings of these studies, synthesized on a regional and global basis.
Oecd Economic Outlook Volume 2010 Issue 2
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Author : OECD
language : en
Publisher: OECD Publishing
Release Date : 2010-12-07
Oecd Economic Outlook Volume 2010 Issue 2 written by OECD and has been published by OECD Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-12-07 with categories.
The OECD Economic Outlook analyses the current economic situation and examines the economic policies required to foster a sustained recovery in member countries. This issue covers the outlook to end-2012 and includes a special chapter on fiscal consolidation.
The Fundamental Dynamic Effect On Reform And Opening In China
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Author : SHAO Binhong
language : en
Publisher: BRILL
Release Date : 2019-10-29
The Fundamental Dynamic Effect On Reform And Opening In China written by SHAO Binhong and has been published by BRILL this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-10-29 with Political Science categories.
The Fundamental Dynamic Effect on Reform and Opening in China is the seventh volume of the series China in the World. The year 2018 marks the fortieth year of China’s reform and opening. China’s reform and opening has involved many areas. This volume focuses on reform and opening’s dynamic mechanisms, but it also touches on how to look at some of the problems that these dynamic mechanisms face today. The articles in this volume explore the driving force of China’s reform and opening up from the perspective of institutional changes, such as the political economy of globalization and China’s options in response to globalization’s retrogression and the (re)construction of world order. What are the strategies for upgrading the competitiveness of an emerging major power? Why does world need a new concept of openness? What are the four major challenges for the world economy? How do Chinese scholars think in an “Anti-Globalization” environment?