Structural Reforms and Growth: Product and Labor Market Deregulations
CentER Discussion Paper Series No. 2006-112
32 Pages Posted: 30 Nov 2006
There are 2 versions of this paper
Structural Reforms and Growth: Product and Labor Market Deregulations
Structural Reforms and Growth: Product and Labor Market Deregulations
Date Written: November 2006
Abstract
The paper focuses on labor and product market deregulations, as fundamental elements in the passage from an investment to an innovation-based economy. The approach undertaken is prominently empirical. After a very brief description of the regulatory levels on the two sides of the Atlantic, we take two cornerstone theoretical models: one developed by Robert Gordon (1997), the other developed by Blanchard and Giavazzi (2003) and we observe how well their theoretical predictions are supported by hard data. We conclude with an independent study on the accuracy of the IMD competitiveness index in predicting the overall economic performance of countries close to the technological frontier.
Keywords: employment, unemployment, wages, growth, regulation, productivity, IMD
JEL Classification: E24, D24, L16, J50
Suggested Citation: Suggested Citation