Seminar « assessing the impact of structural reforms »

Introduced by Marc-Olivier Strauss-Kahn, Head of the Economics and International General Directorate at the Banque de France and Sandrine Duchene, Deputy Director-General at the French Treasury, the seminar allowed to present and discuss different theoretical and empirical methods aiming to assess the impact of structural reforms (on goods and services and labour markets) notably on productivity, growth and employment. The seminar was concluded by Catherine Mann, OECD chief economist, and Jean-François Perrault, co-Chair of the G20 working group on a Strong, sustainable and balanced growth.

Gilbert Cette, Deputy Director General of DGEI, exposed his most recent work regarding this issue. China, South Korea and France have also presented their experience on structural reforms’ assessment. Benjamin Hunt (IMF) and Bruno Cabrillac (Banque de France, DERIE) have address the subject of spillovers of structural reforms and how to assess them.  Phillippe Aghion gave a lecture on his ongoing research about innovation and inequality. The seminar has been concluded par Catherine Mann, OCDE Chief Economist, who has outlined future issues for research but also for decision makers, and by Jean-François Perrault, Assistant Deputy Minister at the Department of Finance Canada and co-chair of the G-20 Framework Working on a strong, sustainable and balanced growth, who has drawn lessons for the G20 Agenda.

Introduction : Marc-Olivier Strauss-Kahn (Banque de France) Sandrine Duchêne (Direction Générale du Trésor)
 

Session 1: Long term impact of structural reforms in the goods and services markets

G. Cette (BDF) Product and labour market regulations,production prices, wages and productivity

W. Roos (DG Trésor) Estimating macroeconomic impact of pro-competitive reforms

V. Haksar (FMI) A Sector-Level Perspective on Productivity Trends in Advanced Economies

Discutants : E. Canton (Commission Européenne)  D. Andrews (OCDE)

Session 2: Long term impact of structural reforms in the labour market

F. Orlandi (BCE) Long term impact of structural reforms in the labour market

M. Izquierdo (Banque d’Espagne) Reforming labour markets in bad times: An assessment of the Spanish experience

M. Aleksynska (BIT) Evaluating Labour Market Reforms: Policy Choice, Relevance, and Evidence of Results

Discutants : S. Scarpetta (OCDE) J.Portes (NIESR) M. Saito (Banque du Japon)

Guest speaker : Philippe Aghion (Harvard University) Innovation, Income Inequalities and Social Mobility

Session 3: Countries experience on assessing other structural reforms

J. Kim (Korea Development Institute) Economic Effects of Regulatory Reforms: Korea Cases

Li Yuanfang (Chinese Academy of Social Sciences) Pension Reform in China’s Public Sector: Motivation, Process and Impact

Discutants : Z.Qureshi (Banque Mondiale)

Session 4: Short term impact of structural reforms and the role of the macroeconomic situation

A. De Serres (OCDE) Short-term impact of structural reforms

J. In’t Veld (Commission Européenne) ECFIN Pilot exercise Impact Assessment Structural Reforms 2013+2014 NRPs: IT, ES, CZ, DK

Discutants : A. Izurieta (UNCTAD) E. Kharroubi (BRI)

Session 5: International spillovers of structural reforms

B. Hunt (FMI) Modeling the Impact of Structural Reforms and their International Spillovers in the G-20 Model (G20MOD)

B. Cabrillac (Banque de France) Global macroeconomic impact of structural reforms in the G20

Discutants : B. Carton (Cepremap) R. Cristadoro (Banca d'Italia)

Conclusion: Panel Take away messages

Catherine L. Mann (OCDE) Jean-François Perrault (Co-chair of the G-20 Framework Working Group – Canadian Department of Finance) Francis Kramarz (ENSAE- CREST)