Citation

Discussion Paper Details

Please find the details for DP4043 in an easy to copy and paste format below:

Full Details

Title: Structural Reforms and the Macroeconomy: The Role of General Equilibrium Effects

Author(s): Hans Gersbach

Publication Date: September 2003

Keyword(s): awareness of general equilibrium effects, product market reforms, sectoral wage bargaining, unemployment and uneven technological progress

Programme Area(s): Industrial Organization and Labour Economics

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.

For full details and related downloads, please visit: https://cepr.org/active/publications/discussion_papers/dp.php?dpno=4043

Bibliographic Reference

Gersbach, H. 2003. 'Structural Reforms and the Macroeconomy: The Role of General Equilibrium Effects'. London, Centre for Economic Policy Research. https://cepr.org/active/publications/discussion_papers/dp.php?dpno=4043