A Narrative Database of Major Labor and Product Market Reforms in Advanced Economies

91 Pages Posted: 8 Feb 2018 Last revised: 21 Mar 2018

See all articles by Romain Duval

Romain Duval

International Monetary Fund (IMF)

Davide Furceri

International Monetary Fund (IMF)

Bingjie Hu

World Bank

João Tovar Jalles

International Monetary Fund (IMF); Technical University of Lisbon (UTL) - Research Unit on Complexity and Economics (UECE)

Huy Le Nguyen

International Monetary Fund (IMF)

Date Written: January 2018

Abstract

This paper describes a new database of major labor and product market reforms covering 26advanced economies over the period 1970-2013. The focus is on large changes in product marketregulation in seven individual network industries, employment protection legislation for regularand temporary workers, and the replacement rate and duration of unemployment benefits. Themain advantage of this dataset is the precise identification of the nature and date of major reforms,which is valuable in many empirical applications. By contrast, the dataset does not attempt tomeasure and compare policy settings across countries, and as such is no substitute for otherpublicly available indicators produced, for example, by the ILO, the OECD or the World Bank. Itshould also be seen as work in progress, for researchers to build on and improve upon. Based onthe dataset, major reforms appear to have been more frequent in product markets than in labormarkets in the last decades, and were predominantly implemented during the 1990s and 2000s.

Keywords: Reform; Regulation; Product Market; Network Industries; Labor Market; Employment Protection; Unemployment insurance, Reform, Regulation, Product Market, Network Industries, Labor Market, Employment Protection, Unemployment insurance, Legal Monopolies and Regulation or Deregulation, Economics of Regulation, Institutions and Growth

JEL Classification: J65, L43, L51, O43, O47

Suggested Citation

Duval, Romain and Furceri, Davide and Hu, Bingjie and Jalles, João Tovar and Nguyen, Huy Le, A Narrative Database of Major Labor and Product Market Reforms in Advanced Economies (January 2018). IMF Working Paper No. 18/19, Available at SSRN: https://ssrn.com/abstract=3120341

Romain Duval (Contact Author)

International Monetary Fund (IMF) ( email )

700 19th Street, N.W.
Washington, DC 20431
United States

Davide Furceri

International Monetary Fund (IMF) ( email )

700 19th Street, N.W.
Washington, DC 20431
United States

Bingjie Hu

World Bank ( email )

1818 H Street, NW
Washington, DC 20433
United States

João Tovar Jalles

International Monetary Fund (IMF) ( email )

700 19th Street, N.W.
Washington, DC 20431
United States

Technical University of Lisbon (UTL) - Research Unit on Complexity and Economics (UECE)

Rua Miguel Lupi, 20
Lisboa, 1200-781
Portugal

Huy Le Nguyen

International Monetary Fund (IMF) ( email )

700 19th Street, N.W.
Washington, DC 20431
United States

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