Structural Reform Packages Sequencing and the Informal Economy is popular PDF and ePub book, written by Zsuzsa Munkacsi in 2017-05-26, it is a fantastic choice for those who relish reading online the Business & Economics genre. Let's immerse ourselves in this engaging Business & Economics book by exploring the summary and details provided below. Remember, Structural Reform Packages Sequencing and the Informal Economy can be Read Online from any device for your convenience.
Structural Reform Packages Sequencing and the Informal Economy Book PDF Summary
This paper explores the macroeconomic impacts of labor and product market deregulation using a small open-economy model with formal and informal markets. We examine both the long-run effects and the transition towards the post-reform equilibrium, while our main focus are reform packages and sequencing. The unofficial sector is a major determinant of the sign, and, in particular, the magnitude of responses. South Africa, an emerging country, is considered when Bayesian estimating the model. Regarding the long run, both labor and product market reforms considerably increase output, although labor market reforms are more successful in decreasing unemployment. Nevertheless, there are short-term costs, for example, a decrease in household consumption, net exports or output, or a decrease in competition. Combining reforms, especially with product market deregulation, are good at reducing short-term costs. Finally, concerning the speed of adjustment, it is usually better to start with a labor market reform.
Detail Book of Structural Reform Packages Sequencing and the Informal Economy PDF
- Author : Zsuzsa Munkacsi
- Release : 26 May 2017
- Publisher : International Monetary Fund
- ISBN : 9781484302101
- Genre : Business & Economics
- Total Page : 54 pages
- Language : English
- PDF File Size : 8,5 Mb
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