Why It Pays to Synchronize Structural Reforms in the Euro Area Across Markets and Countries

Luc Everaert and Werner Schule

IMF Staff Papers, 2008, vol. 55, issue 2, pages 356-366

Abstract: Simulations with the IMF's Global Economy Model, calibrated to the European Union, suggest that there are sizable long-term gains in output and employment from boosting competition in product and labor markets. Coordinating reforms across these markets in a given country is found to be beneficial: it reduces transition costs in the short run and generates synergies in the long run. However, to prevent a temporary fall in euro area consumption, synchronization across countries is needed if they are to benefit from a monetary policy reaction. IMF Staff Papers (2008) 55, 356–366. doi:10.1057/imfsp.2008.6; published online 8 April 2008

Downloads: (external link)
http://www.palgrave- ... /pdf/imfsp20086a.pdf Link to full text PDF (application/pdf)
http://www.palgrave- ... ull/imfsp20086a.html Link to full text HTML (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Ordering information: This journal article can be ordered from
Palgrave Macmillan Journals, Subscription Department, Houndmills, Basingstoke, Hampshire RG21 6XS, UK
http://www.palgrave- ... subscribe/index.html

Access Statistics for this article

More articles in IMF Staff Papers from Palgrave Macmillan Journals
Series data maintained by Elizabeth Gale ().