The SDN will focus mostly on EA countries but also touch on other AEs for comparison purposes. The SDN will make several original contributions in each of the areas above based on new DSGE-model-based analysis, cross-country panel regressions, and individual-level (firm- or household-level) empirical work where appropriate.

• Cover
• CONTENTS
• EXECUTIVE SUMMARY
• INTRODUCTION
• ECONOMIC FLUCTUATIONS IN THE EURO AREA AND OTHER ADVANCED ECONOMIES
• STRUCTURAL POLICIES TO ENHANCE ECONOMIC
  • A. Enhancing the design of labor market policies and institutions
  • B. Product market deregulation and open markets
  • C. Strengthening corporate insolvency regimes
• MACROECONOMIC AND STRUCTURAL POLICY INTERACTIONS IN THE EURO AREA
  • A. The role of the exchange rate regime
  • B. Consequences for fiscal policy stabilization
  • C. Consequences for monetary policy stabilization
• CONCLUSIONS
• FIGURES
  • 1. Output and Employment over Time in the Euro Area
  • 2. Diagram of Business Cycle Phases
  • 3. Business Cycle Phases in Advanced Economies
  • 4. Average Output recovery Characteristics
  • 5. Association of Average Recession and Recovery Characteristics
  • 6. Structural Policies and Business Cycle Properties
  • 7. Output Impact of Major Recessions With or Without Reforms
  • 8. Minimum Wages and Collective Bargaining
  • 9. Insolvency Regime and Sectoral Misallocation
  • 10. Change in Avera Sectoral Misallocation from 2004-08 to 2009-13
  • 11. Change in Reallocation Efficiency with Higher Insolvency Quality
  • 12. Change in Firm-level Capital Growth for a 10% Rise in Marginal Productivity of Capital
  • 13. Output and Employment Responses to Risk Premium Shock
  • 14. Impact Output Responses to Government Spending
  • 15. Estimated Change in Intangible Assets Investment
• REFERENCES