Structural Reforms and European Monetary Union: What Can a Panel Analysis for the World versus OECD Countries Tell Us?

Ansgar Belke, Bernhard Herz and Lukas Vogel

Chapter 8 in The Travails of the Eurozone, 2007, pp 179-207 from Palgrave Macmillan

Abstract: Abstract Recently, the economics of structural reforms has attracted increasing attention in the academic literature (Abiad and Mody, 2005; Helbling et al., 2004; for a survey see Heinemann, 2004, 2005). A more practical question is whether being part of European Monetary Union tends to help or hinder structural reform. This ongoing research is driven by the fact that, for a number of EU countries, the speed of structural changes lags behind what is necessary, given high structural unemployment and imminent demographic change. Policy fields where a striking contrast between needs and deeds of institutional change has been identified are, for instance, government size, labour market, product market, credit and business regulation.

Keywords: Exchange Rate; Monetary Policy; Euro Area; Economic Freedom; Structural Reform (search for similar items in EconPapers)
Date: 2007
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-80147-9_8

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DOI: 10.1057/9780230801479_8

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