Economists recommend to partly redistribute gains to losers from a structural reform, which in many cases may be … required for making the reform politically viable. However, taxation is distortionary. Then, it is unclear that compensatory … transfers can support a Pareto-improving reform. This paper provides sufficient conditions for this to occur, despite tax …

Recent research convincingly shows that crises beget reform. Although the consensus is that economic crises foster … macroeconomic stabilization, it is silent on which types of crises cause which types of reform. Is it economic or political crises … interdependencies between the two types of crises, feedbacks between the two types of reform, the use of alternative measures of …