{
  "title": "International Spillover of Labor Market Reforms",
  "publication": "IMF Working Papers, April 1, 2008",
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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.",
  "sections": [
    {
      "heading": "Research question and model",
      "content": "- 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.\n- The model is calibrated on Germany and the rest of the Euro area.\n- Comparison undertaken between unionized labor market settings and a competitive labor market."
    },
    {
      "heading": "Key findings",
      "content": "- German labor market reforms have positive spillover effects on the rest of the Euro area.\n- Spillover channels identified:\n  - Trade\n  - Relative price adjustment\n  - Financial market integration\n- Unionization effects:\n  - Compared to a competitive labor market, unionization dampens the positive response of the domestic economy.\n  - Unionization magnifies the spillover effects to trading partners."
    },
    {
      "heading": "Subjects and keywords",
      "content": "- Subjects: Consumption, Employment, Labor markets, Terms of trade, Wages\n- Keywords: labor market, real interest rate, WP\n\nInternational Spillover of Labor Market Reforms — IMF Working Paper No. 2008/113\n\n---\n\n Content in this bundle\n\n- International Spillover of Labor Market Reforms; Mai Dao; IMF Working Paper 08/113; April 1, 2008\n  - International Spillover of Labor Market Reforms; Mai Dao; IMF Working Paper 08/113; April 1, 2008 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - International Spillover of Labor Market Reforms; Mai Dao; IMF Working Paper 08/113; April 1, 2008 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2016/12/31/international-spillover-of-labor-market-reforms-21907"
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    "Authors: Mai Dao",
    "Published: April 1, 2008",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9781451869736.001",
    "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.",
    "Comparison undertaken between unionized labor market settings and a competitive labor market.",
    "German labor market reforms have positive spillover effects on the rest of the Euro area.",
    "Spillover channels identified:",
    "Unionization effects:",
    "Subjects: Consumption, Employment, Labor markets, Terms of trade, Wages",
    "Keywords: labor market, real interest rate, WP",
    "**International Spillover of Labor Market Reforms; Mai Dao; IMF Working Paper 08/113; April 1, 2008**"
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