The impact of product and labour market reform on growth
Evidence for OECD countries based on local projections
Bibliographic Data
| ID | 21653582 |
|---|---|
| Authors | Jakob De Haan (0000-0002-5504-9448, Faculty of Economics and Business University of Groningen Groningen The Netherlands), Rasmus Wiese (0000-0001-6336-6788, Faculty of Economics and Business University of Groningen Groningen The Netherlands, corresponding author) |
| Year | 2022 |
| Volume | 37 |
| Issue | 4 |
| Pages | 746-770 |
| Publication date | 2022-06-01 |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Journal of Applied Econometrics (JOURNAL) |
| Journal identifiers | ISSN: 1099-1255 • E-ISSN: 0883-7252 |
| Publisher | Wiley (PUBLISHER • GB) |
| DOI | 10.1002/jae.2890 |
| OpenAlex | W3040229983 |
| Language | EN |
| Citations received | 7 |
| References cited | 45 |
We examine the impact of labour and product market reforms on economic growth in 25 OECD countries between 1985 and 2013, and tests whether this impact is conditioned by the fiscal policy stance. Our local projection results suggest that controlling for endogeneity of reforms (by the Augmented Inverse Probability Weighted estimator) and fiscal policy is crucial. Our results show that product market reforms mostly cause slight negative growth, except when implemented during periods of neutral fiscal policy. Labour market reforms hurt growth under tight and neutral fiscal policy, but are conducive to economic growth if introduced during periods of expansionary fiscal policy
Econometrics · Economics · Endogeneity · Fiscal policy · Macroeconomics · Market economy · Monetary economics · Product market · Fiscal Policy and Economic Growth · Global trade and economics · Monetary Policy and Economic Impact
Unleashing potential
Do fiscal rules need budget transparency to be effective
Growth and Inequality Effects of Reforms from the Perspective of Defining and Measuring
Restructuring reforms for green growth
Carbon price shocks and tourism demand
Impact of uncertainty on economic growth
Unemployment impact of network sectors and employment protection legislation reforms
Estimation and Inference of Impulse Responses by Local Projections
What Determines Productivity?
Estimating and Testing Linear Models with Multiple Structural Changes
Testing Weak Cross-Sectional Dependence in Large Panels
Regulation, productivity and growth
What Do We Know About the Political Economy of Economic Policy Reform?
Computation and analysis of multiple structural change models
Fiscal Expansions and Adjustments in OECD Countries
Constructing Inverse Probability Weights for Marginal Structural Models
Measuring the Output Responses to Fiscal Policy
Biases in Dynamic Models with Fixed Effects
The Next Generation of the Penn World Table
A decade of labour market reforms in the EU
Robust political economy correlates of major product and labor market reforms in advanced economies
Consistent Covariance Matrix Estimation with Spatially Dependent Panel Data
Nonparametric Estimation of Average Treatment Effects Under Exogeneity
Market Regulations, Prices, and Productivity
Do political variables affect fiscal policy adjustment decisions? New empirical evidence
Government Spending Multipliers in Good Times and in Bad
Reassessing Labour Market Reforms
Employment Effects of Product and Labour Market Reforms
The Time for Austerity
A Contribution to the Empirics of Economic Growth
Back to the Future
An Introduction to the Augmented Inverse Propensity Weighted Estimator
Recent Developments in the Econometrics of Program Evaluation
The Wage Impact of the Marielitos
Political Parties and Macroeconomic Policy
| Citations per year | 1.75 |
|---|---|
| Citation span | 2022 - 2026 (5) |
| Highly cited | No |