{
  "title": "Assessing the Macroeconomic Impact of Structural Reforms in Chile",
  "publication": "IMF Working Papers, December 14, 2018",
  "sourceUrl": "https://www.imf.org/en/publications/wp/issues/2018/12/14/assessing-the-macroeconomic-impact-of-structural-reforms-in-chile-46405",
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  "summary": "This study investigates the likely macroeconomic impact of various structural reforms that align the Chilean regulatory framework with international best practices.",
  "sections": [
    {
      "heading": "Overview",
      "content": "- The study investigates the likely macroeconomic impact of various structural reforms that align the Chilean regulatory framework with international best practices.\n- Analysis components:\n  - presents a comparison across a large set of structural indicators;\n  - identifies policy gaps with respect to OECD countries;\n  - provides quantification of the likely growth and fiscal impact of policy reforms needed to close the gaps."
    },
    {
      "heading": "Key findings",
      "content": "- Chile’s economy is likely to benefit from:\n  - streamlining business regulation and licensing;\n  - strengthening innovation and R&D capacity;\n  - improving labor market flexibility;\n  - enhancing active labor market policies.\n- Under the study’s scenario in which Chile closes structural gaps with OECD’s 25th percentile over five years:\n  - up to 6 percent higher output level;\n  - a cumulative net fiscal gain of about ½ percent of GDP."
    },
    {
      "heading": "Quantified scenario and impacts",
      "content": "- Time horizon:\n  - five years.\n- Outcome metrics:\n  - output level: up to 6 percent higher;\n  - cumulative net fiscal gain: about ½ percent of GDP."
    },
    {
      "heading": "Policy recommendations (implied by analysis)",
      "content": "- Streamline business regulation and licensing to reduce regulatory barriers to entry and operation.\n- Strengthen innovation and R&D capacity to boost productivity and long-term growth.\n- Improve labor market flexibility to facilitate adjustment and employment creation.\n- Enhance active labor market policies to improve labor reallocation and workforce skills.\n\nAssessing the Macroeconomic Impact of Structural Reforms in Chile — Metodij Hadzi-Vaskov, December 14, 2018.\n\n---\n\n Content in this bundle\n\n- Assessing the Macroeconomic Impact of Structural Reforms in Chile, WP/18/285, December 2018\n  - Assessing the Macroeconomic Impact of Structural Reforms in Chile, WP/18/285, December 2018 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Assessing the Macroeconomic Impact of Structural Reforms in Chile, WP/18/285, December 2018 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2018/12/14/assessing-the-macroeconomic-impact-of-structural-reforms-in-chile-46405"
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    "Authors: Metodij Hadzi-Vaskov",
    "Published: December 14, 2018",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9781484386934.001",
    "The study investigates the likely macroeconomic impact of various structural reforms that align the Chilean regulatory framework with international best practices.",
    "Analysis components:",
    "Chile’s economy is likely to benefit from:",
    "Under the study’s scenario in which Chile closes structural gaps with OECD’s 25th percentile over five years:",
    "Time horizon:",
    "Outcome metrics:",
    "Streamline business regulation and licensing to reduce regulatory barriers to entry and operation.",
    "Strengthen innovation and R&D capacity to boost productivity and long-term growth.",
    "Improve labor market flexibility to facilitate adjustment and employment creation.",
    "Enhance active labor market policies to improve labor reallocation and workforce skills.",
    "**Assessing the Macroeconomic Impact of Structural Reforms in Chile, WP/18/285, December 2018**"
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