Research Catalog

Title

Speed of Adjustment to Selected Labour Market and Tax Reforms [electronic resource] / Annabelle Mourougane and Lukas Vogel

Author

Mourougane, Annabelle.

Publication

Paris : OECD Publishing, 2008.

Details

Additional Authors

Vogel, Lukas.

Description

51 p.; 21 x 29.7cm.

Summary

This paper examines the nature and the length of economic adjustments to selected structural reforms, drawing on a variety of approaches: descriptive analysis and simulations using Dynamic General Equilibrium and macro-economic neo-Keynesian models. The descriptive analysis suggests that the correlation between reforms, including a change in the tax wedge, the replacement ratio or anti-competitive product market regulation and the structural unemployment rate peaks only after 5 to 10 years. Lowering employment and price adjustment costs in the euro area to their respective US levels would only have a relatively limited effect on the speed of adjustment to labour market and tax reforms. Monetary policy reaction can speed up the adjustment to a new equilibrium, though to a varying degree in the different OECD countries or regions. In particular, reforms in individual euro area countries are likely to trigger only little or no policy reaction, unless there is an area-wide effort to implement reforms.

Series Statement

OECD Economics Department Working Papers, 1815-1973 ; no.647

Uniform Title

OECD Economics Department Working Papers, no.647.

Subject

Economics

LCCN

10.1787/234217500715

OCLC

oecd-lib

Author

Mourougane, Annabelle.

Title

Speed of Adjustment to Selected Labour Market and Tax Reforms [electronic resource] / Annabelle Mourougane and Lukas Vogel

Imprint

Paris : OECD Publishing, 2008.

Series

OECD Economics Department Working Papers, 1815-1973 ; no.647

OECD Economics Department Working Papers, 1815-1973 ; no.647.

Connect to:

Full text online available onsite at NYPL

Indexed Term

Economics

Added Author

Vogel, Lukas.

Other Standard Identifier

10.1787/234217500715 doi