The IMF has just released a new Staff Position Note Lifting Euro Area Growth: Priorities for Structural Reforms and Governance
[One of the co-authors is Ajai Chopra]
Its recommendations for Ireland are:
1. In relation to the labour market:
- Introduce gradual decrease of benefits over time of unemployment spell and stricter job search requirements
- Provide more resources to the unemployment agencies (FÁS) to provide efficient job search assistance to the growing number of unemployed
- Review the level of minimum wage to make it consistent with the general fall in wages
2. In relation to improving competitiveness:
- Reform planning and licensing systems in net work industries, so as to increase competition in sheltered services sectors
- Focus public resources on high-priority projects in the knowledge-based economy