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Preferences for Reforms: Endowments vs. Beliefs
Author:
Mr. Romain A Duval
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https://orcid.org/0000-0002-2775-7172
,
Yi Ji null

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Mr. Chris Papageorgiou
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Mr. Ippei Shibata null

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Mr. Antonio Spilimbergo
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Series:
IMF Working Papers
Volume/Issue:
Volume 2022: Issue 033
Language:
English
Publication Date:
18 Feb 2022
DOI:
https://doi.org/10.5089/9798400201295.001
ISBN:
9798400201295
ISSN:
1018-5941
Pages:
49
Keywords:
political opinions; preferences; political economy; regulation; reform; employment protection; beliefs; ideology; endowments; surveys.; IMF working paper research Department; EPL deregulation; copyright page; individuals' belief; knowledge indicator; Labor markets; Labor force; Southern Europe; Northern Europe
Legal-disclaimer:
IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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Are preferences for reforms driven by individuals’ own endowments or beliefs? To address this question, we conducted a cross-country survey on people’s opinions on employment protection legislation—an area where reform has proven to be difficult and personal interests are at stake. We find that individuals’ beliefs matter more than their own endowments and personal pay-offs. A randomized information treatment confirms that beliefs explain views about reform, but beliefs can change with new information. Our results are robust to several robustness tests, including to alternative estimation techniques and samples.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund