NDLI: Growth effects of structural reforms in Southern Europe: the case of Greece, Italy, Spain and Portugal

Content Provider	Springer Nature Link
Author	Varga, Jas Roeger, Werner in’t Veld, Jan
Copyright Year	2014
Abstract	This paper develops a semi-endogenous growth model for analysing the intertemporal effects of structural reforms in Southern European countries (Italy, Spain, Portugal and Greece). The model follows the product-variety paradigm in a semi-endogenous setting, and includes a disaggregation of labour into different skill groups. We use a comprehensive set of structural indicators in order to calibrate the model to important macroeconomic ratios and levels of productivity and employment. Our results show that structural reforms yield significant economic gains in the medium and long run. The results point to the importance of product market reforms and labour market related education and tax reforms as the most promising areas of structural policy interventions. This paper also argues for placing more emphasis on education policy which is key in upgrading the labour force, especially in these countries where the share of low skilled labour is among the highest in the euro area.
Starting Page	323
Ending Page	363
Page Count	41
File Format	PDF
ISSN	03408744
Journal	Empirica
Volume Number	41
Issue Number	2
e-ISSN	15736911
Language	English
Publisher	Springer US
Publisher Date	2014-04-18
Publisher Place	Boston
Access Restriction	One Nation One Subscription (ONOS)
Subject Keyword	Productivity differences Endogenous growth R&D Market structure Skill composition Dynamic general equilibrium modelling European Integration International Economics Macroeconomics/Monetary Economics Econometrics Industrial Organization Public Finance & Economics
Content Type	Text
Resource Type	Article
Subject	Geography, Planning and Development Development Economics and Econometrics

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