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Preferences for Reforms: Endowments vs. Beliefs

Author

Listed:
  • Mr. Romain A Duval
  • Yi Ji
  • Mr. Chris Papageorgiou
  • Mr. Ippei Shibata
  • Mr. Antonio Spilimbergo

Abstract

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.

Suggested Citation

  • Mr. Romain A Duval & Yi Ji & Mr. Chris Papageorgiou & Mr. Ippei Shibata & Mr. Antonio Spilimbergo, 2022. "Preferences for Reforms: Endowments vs. Beliefs," IMF Working Papers 2022/033, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:2022/033
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    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;
    All these keywords.

    JEL classification:

    • D70 - Microeconomics - - Analysis of Collective Decision-Making - - - General
    • D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
    • J08 - Labor and Demographic Economics - - General - - - Labor Economics Policies
    • J65 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Unemployment Insurance; Severance Pay; Plant Closings

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