Structural Reforms and Economic Performance: The Experience of Advanced Economies
综合评估了发达经济体结构改革的理论与实证文献，聚焦产品、劳动力和金融市场改革，并指出未来研究需关注测量、改革互动、政治经济学及实施时机。
This article provides a comprehensive assessment of the theoretical and empirical literature on structural reforms in advanced economies. Structural reforms matter because they entail profound and systematic changes that affect economic welfare, productivity, growth, unemployment, macroeconomic stability, and income inequality. Here we focus on structural reforms in product, labor, and financial markets. After putting forward a set of stylized facts, we take stock of the literature on each of these three key structural reforms, and then assess their business cycle and political economy implications. We underscore various gaps in the literature and articulate a future research agenda that highlights four main areas: measurement, interactions among reforms, political economy considerations, and the timing of the implementation of reforms.