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Labor and Product Market Deregulation: Partial, Sequential, or Simultaneous Reform?
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Author/Editor: |
Berger, Helge | Danninger, Stephan |
| Authorized for Distribution: |
December 1, 2005 |
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Electronic Access: |
Free Full Text (PDF file size is 774KB)
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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 study explores the effects of labor and product market deregulation on employment growth. Our empirical results, based on an OECD country panel from 1990-2004, suggest that lower levels of product and labor market regulation foster employment growth, including through sizable interaction effects. Based on these findings, the paper develops a theoretical framework for evaluating deregulation strategies in the presence of reform costs. Optimal deregulation takes various forms depending on the deregulation costs, the strength of reform interactions, and the perspective of the policymaker. Unless deregulation costs are very asymmetric across markets, optimal deregulation requires some form of coordination.
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Order a print copy
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Series: |
Working Paper No. 05/227 |
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Subject(s): |
Labor market policy | Employment | Labor market reforms | Economic models |
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Author's keyword(s): |
Product market regulation
| labor market regulation
| employment growth
| policy coordination
| sequencing
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Published: |
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December 1, 2005 |
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ISBN/ISSN: |
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1934-7073 |
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Format: |
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Paper |
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Stock No: |
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WPIEA2005227 |
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Pages: |
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35 |
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Price: |
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US$15.00 (Academic Rate: US$15.00 )
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