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Title:Structural Reforms and the Macroeconomy: The Role of General Equilibrium Effects PDF Logo
Authors:Gersbach, Hans
Issue Date:2003
Series/Report no.:IZA Discussion paper series 833
Abstract:We examine the macroeconomic consequences of industry wage bargaining and product market reforms. We suggest that general equilibrium effects may be important for the evaluation of industry-specific regulations. In particular, we suggest that the European unemployment problem can be traced back partially to insufficient recognition of general equilibrium effects. Moreover, unawareness of general equilibrium effects may be an explanation of why regulations are introduced and why structural reforms are (not) undertaken.
Subjects:industry wage bargaining
structural reforms
general equilibrium effects
JEL:J60
E24
D58
L13
Document Type:Working Paper
Appears in Collections:IZA Discussion Papers, Forschungsinstitut zur Zukunft der Arbeit (IZA)

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