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Some thoughts on macroeconomic fluctuations and the timing of labor market reform / Gilles Saint-Paul

By: Material type: TextTextSeries: Discussion Paper Series (Forschungsinstitut zur Zukunft der Arbeit) ; IZA DP No.611Publication details: Bonn : Forschungsinstitut zur Zukunft der Arbeit, 2002Description: 12σ. ; 21εκSubject(s): DDC classification:
  • 331.12042 21 εκδ.
Other classification:
  • 13.01.2
Summary: In this paper I analyze the pros and the cons of implementing structural reforms of the labor market in booms vs. recessions, in light of considerations of social efficiency, political viability, and macroeconomic fine turning. While the optimal thing of a reform depends on the relative importance of several conflicting effects, it seems clear that a reform should be accompanied by an expansionary macroeconomic policy. This makes structural reform more problematic in the context of the European Monetary Union.
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Item type Current library Collection Call number Copy number Status Date due Barcode
Books Books Βιβλιοθήκη ΟΜΕΔ Βιβλιοθήκη Κύρια Συλλογή 331.12042 SAI (Browse shelf(Opens below)) 1 Available 031000002440

In this paper I analyze the pros and the cons of implementing structural reforms of the labor market in booms vs. recessions, in light of considerations of social efficiency, political viability, and macroeconomic fine turning. While the optimal thing of a reform depends on the relative importance of several conflicting effects, it seems clear that a reform should be accompanied by an expansionary macroeconomic policy. This makes structural reform more problematic in the context of the European Monetary Union.

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