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220928 ||| eng |
| 020 |
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|a 9781498311489
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| 100 |
1 |
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|a Abbritti, Mirko
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| 245 |
0 |
0 |
|a Market Regulation, Cycles and Growth in a Monetary Union
|c Mirko Abbritti, Sebastian Weber
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| 260 |
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|a Washington, D.C.
|b International Monetary Fund
|c 2019
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| 300 |
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|a 52 pages
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| 651 |
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4 |
|a Italy
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| 653 |
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|a Inflation
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| 653 |
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|a Investment
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| 653 |
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|a Finance
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| 653 |
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|a Labour; income economics
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| 653 |
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|a Return on investment
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| 653 |
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|a Deflation
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| 653 |
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|a Capital and Total Factor Productivity
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| 653 |
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|a Cost
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| 653 |
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|a Commodity exchanges
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| 653 |
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|a Industrial productivity
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| 653 |
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|a Production
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| 653 |
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|a Labor markets
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| 653 |
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|a General Financial Markets: General (includes Measurement and Data)
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| 653 |
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|a Intangible Capital
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| 653 |
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|a Demand and Supply of Labor: General
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| 653 |
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|a Total factor productivity
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| 653 |
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|a National accounts
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| 653 |
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|a Labor
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| 653 |
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|a Economic Growth of Open Economies
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| 653 |
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|a Price Level
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| 653 |
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|a Financial markets
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| 653 |
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|a Saving and investment
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| 653 |
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|a Macroeconomic Analyses of Economic Development
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| 653 |
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|a Investments: General
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| 653 |
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|a Labor market
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| 653 |
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|a Prices
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| 653 |
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|a Macroeconomics
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| 653 |
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|a Capacity
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| 653 |
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|a Institutions and Growth
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| 653 |
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|a Commodity markets
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| 653 |
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|a Capital
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| 653 |
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|a Finance: General
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| 653 |
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|a Production and Operations Management
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| 700 |
1 |
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|a Weber, Sebastian
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| 041 |
0 |
7 |
|a eng
|2 ISO 639-2
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| 989 |
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|b IMF
|a International Monetary Fund
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| 490 |
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|a IMF Working Papers
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| 028 |
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|a 10.5089/9781498311489.001
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| 856 |
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|u https://elibrary.imf.org/view/journals/001/2019/123/001.2019.issue-123-en.xml?cid=46732-com-dsp-marc
|x Verlag
|3 Volltext
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| 082 |
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|a 330
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| 520 |
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|a We build a two-country currency union DSGE model with endogenous growth to assess the role of cross-country differences in product and labor market regulations for long-term growth and for the adjustment to shocks. We show that with endogenous growth, there is no reason to expect real income convergence. Large shocks, through endogenous TFP movements, can lead to permanent changes of output and real exchange rates. Differences are exacerbated when member countries have different product and labor market regulations. Less regulated economies are likely to have higher trend growth and recover faster from negative shocks. Results are consistent with higher inflation, lower employment and disappointing TFP growth rates experienced in the less reform-friendly euro area members
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