Quantifying the Impact of Structural Reforms
Quantifying the Impact of Structural Reforms
复制标题
量化结构改革的影响
DOI：
10.2139/ssrn.921080
复制
发表时间：
2006
期刊：
影响因子：
--
通讯作者：
W. Semmler
中科院分区：
文献类型：
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作者：
Ekkehard C. Ernst;G. Gong;Lina Bukeviciute;W. Semmler
我们估计了一个动态的跨期优化模型，该模型模仿了欧洲劳动力市场的特征，例如 15 个经合组织国家的名义工资粘性和就业对冲击的缓慢调整。这些估计包括劳动力市场疲软程度的衡量标准，与产品和劳动力市场监管的标准指标相比较。对选定国家样本的模型校准证实了其与标准竞争市场模型相比的解释力。第二步，将劳动力市场疲软的衡量标准用作政策变量，并对模型变量进行模拟，以评估劳动力市场更加灵活的国家会在多大程度上表现更好。这些政策实验表明，劳动力市场灵活性的增加降低了消费相对于生产的波动性，提高了跨期效率，但也带来了更高的就业风险。 JEL 分类：E32、C61
We estimate a dynamic, intertemporal optimisation model that mimics features of European labour markets, such as sticky nominal wages and sluggish adjustment of employment to shocks for 15 OECD countries. The estimates include a measure for the degree of labour market sluggishness that compares well with standard indicators of product and labour market regulation. Calibration of the model on a selected country sample confirms its explanatory power in comparison with the standard competitive markets model. In a second step, the measure for labour market sluggishness is used as a policy variable and model variants are simulated in order to assess the extent to which the countries would have performed better with more flexible labour markets. These policy experiments show that an increase in labour market flexibility reduces the volatility of consumption relative to production, improves intertemporal efficiency but entails higher employment risk. JEL Classification: E32, C61