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Reforms in labour and product markets play a central role in government policies. The Political Economy of Structural Reforms in Europe takes stock of current frontier work. It brings together leading contributions from academia, the central banks in Europe, and the OECD to argue that structural reforms can make a fundamental contribution to improve economic performance across Europe.

Detail Summary
Date 22 September 2020
Time 10:00 -11:30

The volume The Political Economy of Structural Reforms in Europe  was published by Cambridge University Press (March 2020) and edited by  Nauro F. Campos (University College London), Paul De Grauwe (London School of Economics and Political Science) and Yuemei Ji (University College London). The volume addresses a crucial challenge for European economic governance. Europe has struggled to return to the growth path it was on prior to the financial crisis of 2007–11, notably in countries in the periphery. It is widely believed that the best way to address this slow recovery is through structural reform programmes whereby changes in government policy, regulatory frameworks, investment incentives and labour markets are used to encourage more efficient markets and higher economic growth. The book provides a critical assessment of these reforms, with a new theoretical framework, new data and new empirical methodologies. It includes case studies of countries such as Greece, Portugal and France that introduced significant reforms, revealing that such programmes have divergent, and not always positive, effects on economic growth, employment and income inequality.

The event will start with an introduction by  Paul de Grauwe and Yuemei Yi. This will be followed by interventions by Roel Beetsma and Jante Parlevliet, after which the floor is opened for Q&A with the audience. 

About the speakers

Paul de Grauwe is John Paulson Professor at the London School of Economics. He was a member of the Belgian parliament from 1991 to 2003, and is currently a research fellow at the Centre for European Policy Studies in Brussels and CEPR fellow in London. His research interests are in the economics of monetary unions and behavioural macroeconomics.

Yuemei Yi is a lecturer in Economics at the University College London. She lectures primarily on European macroeconomics and international macroeconomics, and her research interests cover international macroeconomics in general and the European Monetary Union during the post-crisis period in particular. She has done extensive research on the causes of Eurozone debt crisis and its impact on the austerity policies in the Eurozone.

Roel Beetsma is MN Chair of Pension Economics and Vice-Dean of the Faculty of Economics and Business at the UvA.  He is a member of the European Fiscal Board and a Supervisory Board member of two major financial institutions, as well as a fellow of CEPR and CESifo.  His main research interests are fiscal policy and the macroeconomics of pensions.

Jante Parlevliet works at De Nederlandsche Bank and is currently finishing her PhD dissertation on the political economy of structural reforms in the Netherlands .

Frank Vandenbroucke (moderator) is University Professor at the UvA. He also teaches at the University of Antwerp, where he holds the Herman Deleck Chair. His research focuses on the impact of the EU on the development of social and employment policy in the EU Member States.  Vandenbroucke was closely involved with the launching of the EU’s Lisbon Strategy in 2000, notably with the development of its social dimension.