LEADER 04602oam 22011054 450 001 9910788407003321 005 20230828235750.0 010 $a1-4623-5182-4 010 $a1-4527-4913-2 010 $a1-283-51586-5 010 $a1-4519-0916-0 010 $a9786613828316 035 $a(CKB)3360000000443759 035 $a(EBL)3014503 035 $a(SSID)ssj0000943263 035 $a(PQKBManifestationID)11484316 035 $a(PQKBTitleCode)TC0000943263 035 $a(PQKBWorkID)10975477 035 $a(PQKB)11553289 035 $a(OCoLC)694141189 035 $a(MiAaPQ)EBC3014503 035 $a(IMF)WPIEE2006137 035 $a(EXLCZ)993360000000443759 100 $a20020129d2006 uf 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 10$aStructural Reforms in the Euro Area : $eEconomic Impact and Role of Synchronization Across Markets and Countries /$fLuc Everaert, Werner Schule 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2006. 215 $a1 online resource (32 p.) 225 1 $aIMF Working Papers 300 $a"June 2006". 311 $a1-4518-6397-7 327 $a""Contents""; ""I. INTRODUCTION""; ""II. GLOBAL ECONOMIC MODEL""; ""III. SIMULATION RESULTS""; ""IV. CONCLUSIONS""; ""REFERENCES"" 330 3 $aUsing the IMF's Global Economic Model, calibrated to the European Union, the effects of reform in product and labor markets are quantified for both a large and a small euro area economy. When markups in these markets are reduced, there are sizable long-term gains in output and employment. Most of these gains accrue to the reforming country regardless of whether reform takes place elsewhere; conversely, spillovers of reform elsewhere are limited. Labor and services market reforms have transitional costs as they induce a temporary decline in consumption, but raising competition in goods markets can mitigate some of these costs. Thus, coordinating the timing of reforms across markets is beneficial, and the more so the more open the reforming economy. In addition, synchronizing structural reforms across large countries of the euro area could eliminate transition costs. Increased supply would allow monetary policy to ease without jeopardizing price stability objectives, though in practice uncertainty may prevent full accommodation. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2006/137 606 $aEconometric models$zEuropean Economic Community countries 606 $aFiscal policy$zEuropean Economic Community countries 606 $aFinance: General$2imf 606 $aLabor$2imf 606 $aMacroeconomics$2imf 606 $aDemand and Supply of Labor: General$2imf 606 $aLabor Economics Policies$2imf 606 $aGeneral Financial Markets: General (includes Measurement and Data)$2imf 606 $aMacroeconomics: Consumption$2imf 606 $aSaving$2imf 606 $aWealth$2imf 606 $aLabor Economics: General$2imf 606 $aLabour$2imf 606 $aincome economics$2imf 606 $aFinance$2imf 606 $aLabor markets$2imf 606 $aLabor market reforms$2imf 606 $aCommodity markets$2imf 606 $aConsumption$2imf 606 $aLabor market$2imf 606 $aManpower policy$2imf 606 $aCommodity exchanges$2imf 606 $aEconomics$2imf 606 $aLabor economics$2imf 607 $aFrance$2imf 615 0$aEconometric models 615 0$aFiscal policy 615 7$aFinance: General 615 7$aLabor 615 7$aMacroeconomics 615 7$aDemand and Supply of Labor: General 615 7$aLabor Economics Policies 615 7$aGeneral Financial Markets: General (includes Measurement and Data) 615 7$aMacroeconomics: Consumption 615 7$aSaving 615 7$aWealth 615 7$aLabor Economics: General 615 7$aLabour 615 7$aincome economics 615 7$aFinance 615 7$aLabor markets 615 7$aLabor market reforms 615 7$aCommodity markets 615 7$aConsumption 615 7$aLabor market 615 7$aManpower policy 615 7$aCommodity exchanges 615 7$aEconomics 615 7$aLabor economics 700 $aEveraert$b Luc$01463684 701 $aSchule$b Werner$01463962 712 02$aInternational Monetary Fund.$bEuropean Dept. 801 0$bDcWaIMF 906 $aBOOK 912 $a9910788407003321 996 $aStructural Reforms in the Euro Area$93850041 997 $aUNINA