| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP10413 |
| DP10413 Reforms, Finance, and Current Accounts | |
| Giuseppe Bertola; Anna Lo Prete | |
| 发表日期 | 2015-02-15 |
| 出版年 | 2015 |
| 语种 | 英语 |
| 摘要 | We analyze the implications of labor market reforms for an open economy?s human capital investment and future production. A stylized model shows that labor market deregulation can imply more positive current account balances if financial markets are imperfect and labor market institutions not only distort labor allocation, but also smooth income. Empirically, in OECD country-level panel data, we find that labor market deregulation has been positively related to current account surpluses on average and more strongly so when and where financial market access was more limited. These results are robust to inclusion of standard determinants of current account imbalances, and do not appear to be driven by cyclical phenomena. |
| 主题 | International Macroeconomics ; Labour Economics |
| 关键词 | Labor market deregulation Precautionary savings |
| URL | https://cepr.org/publications/dp10413 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/539245 |
| 推荐引用方式 GB/T 7714 | Giuseppe Bertola,Anna Lo Prete. DP10413 Reforms, Finance, and Current Accounts. 2015. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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