Past Event
Structural Reforms: dynamic growth impact and policy challenges
What are the beneficial effects of product market reforms? What progress have Spain and Italy made in the past years and what challenges do they still face? How should structural reforms be coordinated within the euro area?
The need for ‘structural reforms’ is a constant feature of policy debates in Europe. Far-reaching reform programmes were central to the release of funds to struggling member states, and find their place in European semester country-specific recommendations. But which reforms are most effective? This off-the-record workshop examined the potential contribution of product and labour reforms to growth.
There were three sessions:
- The first was more methodological and aimed to quantify the beneficial effects of product market reforms, measures to unleash productivity and improvements in good governance.
- The second focused on Spain and Italy, assessing progress made over the past years and the challenges going forward.
- The third was a policy debate on how structural reforms could and should be coordinated within the euro area.
Video recording: Vitor Gaspar’s Keynote
EVENT MATERIALS
Laura Bardone – Presentation
Helge Berger – Presentation
Vitor Gaspar – Keynote Presentation
Vitor Gaspar – Presentation
Alessio Terzi – Presentation
Ramon Xifre – Presentation
Relevant reading
The Microeconomic Dimensions of the Eurozone Crisis | Article by Christian Thimann
The Fiscal Consequences of Shrinking Populations | IMF Staff Discussion Note
Structural Reform Programme | Italian Ministry of Economy and Finance
Reform Timetable | Italian Ministry of Economy and Finance
Intermediate report on implementation of reforms | Italian Ministry of Economy and Finance
Schedule
09:30 - 10:00
Registration and Coffee
10:00 - 10:05
Welcome
Guntram B. Wolff, Director
10:05 - 11:30
Dynamic effects of product market reforms and improvements in governance: a way to increase European productivity?
Chair: Zsolt Darvas, Senior Fellow
Christian Thimann, Member of the Executive Committee, AXA Group
Huw Pill, Chief European Economist, Goldman Sachs
Romain Duval, Assistant Director, Research, International Monetary Fund
11:30 - 11:45
Coffee Break
11:45 - 13:15
Italy and Spain - stocktaking of reforms and challenges ahead
Chair: Adriana Cerretelli, European Editorialist, Il Sole 24 Ore
Alessio Terzi, Former Affiliate Fellow
Helge Berger, Assistant Director, Asia and Pacific Department, IMF
Laura Bardone, Head of Unit – Spain and Croatia, European Commission DG ECFIN
Ramon Xifré, Professor at ESCI - Universitat Pompeu Fabra and Policy Research Fellow at PPSRC - IESE Business School
13:15 - 14:15
Lunch
14:15 - 15:00
Keynote Speech - LIVE-STREAMED
Vitor Gaspar, Director of Fiscal Affairs Department, IMF
15:00 - 16:30
Structural reforms in EMU and the political economy of coordination in Europe’s quest for growth
Chair: Gabriele Steinhauser, Brussels Correspondent, The Wall Street Journal
Massimo Bordignon, Former Non Resident fellow
Vitor Gaspar, Director of Fiscal Affairs Department, IMF
Wilfried Steinheuer, Director European Economic and Monetary Union, German Federal Finance Ministry
Speakers
Laura Bardone
Head of Unit – Spain and Croatia, European Commission DG ECFIN
Helge Berger
Assistant Director, Asia and Pacific Department, IMF
Massimo Bordignon
Former Non Resident fellow
Adriana Cerretelli
European Editorialist, Il Sole 24 Ore
Zsolt Darvas
Senior Fellow
Romain Duval
Assistant Director, Research, International Monetary Fund
Vitor Gaspar
Director of Fiscal Affairs Department, IMF
Huw Pill
Chief European Economist, Goldman Sachs
Gabriele Steinhauser
Brussels Correspondent, The Wall Street Journal
Wilfried Steinheuer
Director European Economic and Monetary Union, German Federal Finance Ministry
Alessio Terzi
Former Affiliate Fellow
Christian Thimann
Member of the Executive Committee, AXA Group
Guntram B. Wolff
Director
Ramon Xifré
Professor at ESCI - Universitat Pompeu Fabra and Policy Research Fellow at PPSRC - IESE Business School
Location & Contact
Matilda Sevón
[email protected] +32 2 227 4212
