TY  - RPRT
        AU  - Gersbach, Hans
        TI  - Structural Reforms and the Macroeconomy: The Role of General Equilibrium Effects
        PY  - 2003/Jul/
        PB  - Institute of Labor Economics (IZA)
        CY  - Bonn
        T2  - IZA Discussion Paper
        IS  - 833
        UR  - https://www.iza.org/publications/dp833
        AB  - We examine the macroeconomic consequences of industry wage bargaining and product
market reforms. We suggest that general equilibrium effects may be important for the
evaluation of industry-specific regulations. In particular, we suggest that the European
unemployment problem can be traced back partially to insufficient recognition of general
equilibrium effects. Moreover, unawareness of general equilibrium effects may be an
explanation of why regulations are introduced and why structural reforms are (not)
undertaken.
        KW  - uneven technological progress
KW  - industry wage bargaining
KW  - unemployment
KW  - structural reforms
KW  - general equilibrium effects
        ER  -