Structural Reforms and Growth: Product and Labor Market Deregulations

CentER Discussion Paper Series No. 2006-112

32 Pages Posted: 30 Nov 2006

See all articles by Sylvester C. W. Eijffinger

Sylvester C. W. Eijffinger

Tilburg University (CentER) - Department of Economics; CESifo (Center for Economic Studies and Ifo Institute); Centre for Economic Policy Research (CEPR)

Alberto G. P. Rossi

Board of Governors of the Federal Reserve System

Multiple version iconThere are 2 versions of this paper

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

Eijffinger, Sylvester C. W. and Rossi, Alberto G. P., Structural Reforms and Growth: Product and Labor Market Deregulations (November 2006). CentER Discussion Paper Series No. 2006-112, Available at SSRN: https://ssrn.com/abstract=948409 or http://dx.doi.org/10.2139/ssrn.948409

Sylvester C. W. Eijffinger (Contact Author)

Tilburg University (CentER) - Department of Economics ( email )

P.O. Box 90153
Tilburg, 5000 LE
Netherlands
+31 13 466 2411 (Phone)
+31 13 466 3042 (Fax)

CESifo (Center for Economic Studies and Ifo Institute)

Poschinger Str. 5
Munich, DE-81679
Germany

HOME PAGE: http://www.CESifo.de

Centre for Economic Policy Research (CEPR)

London
United Kingdom

Alberto G. P. Rossi

Board of Governors of the Federal Reserve System ( email )

20th Street and Constitution Avenue NW
Washington, DC 20551
United States

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