Report of March 14, 2017
On Monday, Maurice Obstfeld, IMF chief economist and former economic advisor of Barack Obama, commented on the new IMF-Paper „Labor and product market reforms in advanced economies: fiscal costs, gains, and support” during a DIW Berlin event about „The role of fiscal policy in advancing structural reforms in Europe“.
The paper concludes that reforms do not just grow the economy, they also reduce public debt burdens over time. Implementing reforms will therefore help cash-strapped governments.
Romain Duval, one of the authors, presented the results in an introductory lecture. Ludger Schuknecht, chief economist of the Federal Ministry of Finance, responded to the results with a short presentation.
After the presentations, DIW president Marcel Fratzscher opened a discussion panel, attended by all speakers.
Photos of the event in the DIW Mediathek.
Presentation (PDF, 3.98 MB) by Maurice Obstfeld
Presentation (PDF, 330.44 KB) by Ludger Schuknecht
Presentation (PDF, 456.76 KB) by Romain Duval