The Costs of Flexibility-Enhancing Structural Reforms A Literature Review
This survey highlights the key results of the empirical literature concerning the costs of flexibility enhancing reforms in product and labour markets. The documented costs include reduced employment, loss of government revenue, undesirable distributional consequences and political instability. The...
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| Other Authors: | , |
| Format: | eBook |
| Language: | English |
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Paris
OECD Publishing
2015
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| Series: | OECD Economics Department Working Papers
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| Subjects: | |
| Online Access: | |
| Collection: | OECD Books and Papers - Collection details see MPG.ReNa |
| Summary: | This survey highlights the key results of the empirical literature concerning the costs of flexibility enhancing reforms in product and labour markets. The documented costs include reduced employment, loss of government revenue, undesirable distributional consequences and political instability. The literature suggests that: i) once implemented, product and labour market reforms affect prices and quantities quite rapidly; ii) there are no major differences between the overall effects in the short and long run; iii) the costs of reforms are very much related to interactions with other policies and institutions; and iv) the costs of reforms change over the business cycle |
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| Physical Description: | 74 p. 21 x 29.7cm |