Macroeconomic Fluctuations and the Timing of Labour-Market Reform

Gilles Saint-Paul

Chapter 7 in Structural Reform and Economic Policy, 2004, pp 119-129 from Palgrave Macmillan

Abstract: Abstract It is commonly heard that expansionary times are more favourable than recessions for implementing structural reforms in the labour market. Behind this belief is the intuition that structural reforms are ‘painful’ and that such pain is likely to be lighter in a boom. In this chapter, I try to discuss these issues from a more precise and analytical perspective and conclude that this simplistic view should be severely qualified.

Keywords: Business Cycle; European Central Bank; Political Support; Social Welfare Function; Structural Reform (search for similar items in EconPapers)
Date: 2004
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Working Paper: Macroeconomic Fluctuations and the Timing of Labor Market Reform (2004)
Working Paper: Macroeconomic Fluctuations and the Timing of Labour Market Reforms (2002)
Working Paper: Macroeconomic Fluctuations and the Timing of Labor Market Reform (2002)
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Persistent link: https://EconPapers.repec.org/RePEc:pal:intecp:978-0-230-52444-6_7

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DOI: 10.1057/9780230524446_7

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