Labor And Product Market Reforms And External Imbalances Evidence From Advanced Economies
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Product and labor market reforms are needed to lift persistently sluggish growth in advanced economies. But reforms have progressed slowly because of concerns a
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This paper describes a new database of major labor and product market reforms covering 26 advanced economies over the period 1970-2013. The focus is on large ch
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Total factor productivity growth was stagnant or slowing in many advanced countries even prior to the crisis. This paper documents sector-level productivity pat
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In the recent decades, slow growth in Advanced Economies have led policymakers to emphasize structural reforms. Similarly, Emerging and low-income countries hav