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Reforms, exchange rates and monetary commitment : a panel analysis for OECD countries

Title data

Belke, Ansgar ; Herz, Bernhard ; Vogel, Lukas:
Reforms, exchange rates and monetary commitment : a panel analysis for OECD countries.
In: Open Economies Review. Vol. 18 (2007) Issue 3 . - pp. 369-388.
ISSN 0923-7992
DOI: https://doi.org/10.1007/s11079-007-9042-8

Abstract in another language

The paper investigates the link between monetary policy and structural reforms in open economies. We test three hypotheses: (a) the Calmfors hypothesis that the degree of reforms is higher in the case of autonomous policy and lower in the case of commitment, (b) the TINA hypothesis which implies a positive impact of a monetary policy rule on the extent of reforms, and (c) a third factors hypothesis. In our empirical analysis on panel data of 23 OECD countries from 1980–2000 we find little evidence for the Calmfors hypothesis, but evidence in favor of the TINA argument for labor market and regulatory reform.

Further data

Item Type: Article in a journal
Refereed: Yes
Institutions of the University: Faculties > Faculty of Law, Business and Economics > Department of Economics > Chair Economics I > Chair Economics I - Univ.-Prof. Dr. Bernhard Herz
Faculties
Faculties > Faculty of Law, Business and Economics
Faculties > Faculty of Law, Business and Economics > Department of Economics
Faculties > Faculty of Law, Business and Economics > Department of Economics > Chair Economics I
Result of work at the UBT: Yes
DDC Subjects: 300 Social sciences > 330 Economics
Date Deposited: 02 Apr 2015 06:19
Last Modified: 02 Apr 2015 06:19
URI: https://eref.uni-bayreuth.de/id/eprint/9775