Proceedings from the ECFIN Workshop "The budgetary implications of structural reforms" - Brussels, 2 December 2005

Figure 6. Initial conditions and intensity of labour market reforms

Panel A. Ranks of initial NAIRUs¹ and ranks of reform intensities over 1994-2004: EMU countries

(Spearman's rank) correlation coefficient: 0.19

Panel B. Ranks of initial NAIRUs¹ and ranks of reform intensities over 1994-2004: non-EMU, non-transition countries

(Spearman's rank) correlation coefficient: -0.55 *

1. Nairu estimates for 1993.

* significant at 10% level; ** significant at 5% level.

Source: Author's adaptation based on Brandt, Burniaux and Duval (2005).

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