Macroeconomic Fluctuations and the Timing of Labour Market Reforms

Gilles Saint-Paul ()

No 3646, CEPR Discussion Papers from C.E.P.R. Discussion Papers

Abstract: In this Paper, I analyse the pros and cons of implementing structural reforms of the labour market in booms versus recessions, in light of considerations of social efficiency, political viability, and macroeconomic fine-tuning. While the optimal timing of a reform depends on the relative importance of several conflicting effects, it seems clear that a reform should be accompanied by an expansionary macroeconomic policy. This makes structural reform more problematic in the context of the European Monetary Union.

Keywords: employment protection; firing costs; labour market reforms; monetary union; political economy; unemployment (search for similar items in EconPapers)
JEL-codes: E32 E52 E61 J60 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-ifn and nep-mac
Date: 2002-11
View citations in EconPapers

Downloads: (external link)
http://www.cepr.org/pubs/dps/DP3646.asp (application/pdf)
CEPR Discussion Papers are free to download for our researchers, subscribers and members. If you fall into one of these categories but have trouble downloading our papers, please contact us at subscribers@cepr.org

Related works:
Working Paper: Macroeconomic Fluctuations and the Timing of Labor Market Reform (2004)
Working Paper: Macroeconomic Fluctuations and the Timing of Labor Market Reform (2002)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: http://EconPapers.repec.org/RePEc:cpr:ceprdp:3646

Ordering information: This working paper can be ordered from
http://www.cepr.org/pubs/dps/DP3646.asp

Access Statistics for this paper

More papers in CEPR Discussion Papers from C.E.P.R. Discussion Papers
Address: Centre for Economic Policy Research, 53--56 Great Sutton Street, London EC1V 0DG
Series data maintained by ().