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Author/Editor:
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Dao, Mai
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Publication Date:
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April 01, 2008
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Electronic Access:
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Free Full text
(PDF file size is 1,012KB).
Use the free
Adobe Acrobat Reader
to view this PDF file
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Disclaimer: This Working Paper should not be reported as representing the views of the IMF.
The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate
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Summary:
This paper uses a dynamic economy model, with unionized labor markets, to analyze the effects of labor market reforms, similar to those recently introduced in Germany, on the domestic and trading partner economies. The model is calibrated on Germany and the rest of the Euro area. The results indicate that German labor market reforms have positive spillover effects on the rest of the Euro area, which operate through the channel of trade, relative price adjustment, and financial market integration. Compared to a competitive labor market, setting, unionization dampens the positive response of the domestic economy and magnifies the spillover effects.
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Series:
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Working Paper No. 08/113
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Subject(s):
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Labor market reforms | Germany | Europe | Labor policy | Price adjustments | International capital markets | International trade
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Author's Keyword(s):
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policy spillover | unionized labor markets | open economy model |
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English
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Publication Date:
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April 01, 2008
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Format:
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Paper
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Stock No:
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WPIEA2008113
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Pages:
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35
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Price:
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US$18.00 )
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Please address any questions about this title to
publications@imf.org
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