Structural Adjustments and Reforms

Hubert Kempf
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Hubert Kempf: École Normale Supérieure Paris-Saclay

Chapter 8 in Monetary Unions, 2022, pp 275-317 from Springer

Abstract: Abstract This chapter addresses the issue of structural reforms, which is the subject of concern for many policy-makers in a monetary union. A monetary union requires specific adjustment mechanism to supplement the absence of exchange rates. Structural reforms are not necessarily focused on markets with the aim of freeing markets. The public sector may be the object of reforms. Issues of impact and implementation of structural reforms are discussed. A model of structural reforms in a monetary union is presented and used to discuss the outcome of a non-cooperative game on reform adoption. It is shown that it can take the form of a coordination game generating multiple equilibria.

Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sptchp:978-3-030-93232-9_8

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DOI: 10.1007/978-3-030-93232-9_8

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