Structural Reforms and Growth: Product and Labor Market Deregulations

S.C.W. Eijffinger, A. Rossi

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Abstract

The paper focuses on labor and product market deregulations, as fundamental elements in the passage from an investment to an innovation-based economy.The approach undertaken is prominently empirical.After a very brief description of the regulatory levels on the two sides of the Atlantic, we take two cornerstone theoretical models: one developed by Robert Gordon (1997), the other developed by Blanchard and Giavazzi (2003) and we observe how well their theoretical predictions are supported by hard data.We conclude with an independent study on the accuracy of the IMD competitiveness index in predicting the overall economic performance of countries close to the technological frontier.
Original languageEnglish
Place of PublicationTilburg
PublisherMacroeconomics
Number of pages33
Volume2006-112
Publication statusPublished - 2006

Publication series

NameCentER Discussion Paper
Volume2006-112

Keywords

  • employment
  • unemployment
  • wages
  • growth
  • regulation
  • productivity
  • IMD

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    Eijffinger, S. C. W., & Rossi, A. (2006). Structural Reforms and Growth: Product and Labor Market Deregulations. (CentER Discussion Paper; Vol. 2006-112). Macroeconomics.