Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/21275
Authors: 
Saint-Paul, Gilles
Year of Publication: 
2002
Series/Report no.: 
IZA Discussion paper series 611
Abstract: 
n this paper, I analyze the pros and cons of implementing structural reforms of the labor market in booms vs. recessions, in light of considerations of social efficiency, political viability, and macroeconomic fine tuning. While the optimal timing of a reform depends on the relative importance of several conflicting effects, it seems clear that a reform should be accompanied by an expansionary macroeconomic policy. This makes structural reform more problematic in the context of the European Monetary Union.
Subjects: 
labour market reforms
unemployment
employment protection
monetary union
firing costs
political economy
JEL: 
K31
J6
E61
E52
E32
Document Type: 
Working Paper

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