How quickly does structural reform pay off? An empirical analysis of the short-term effects of unemployment benefit reform

Table 1 The reform shocks: summary statistics and country details

Panel A – Summary Statistics
Reform area	Number of reform shocks	Mean	Standard deviation	Minimum	Maximum
Decline in initial unemployment benefit replacement rate, 1^st year (%)	16	8.55	2.93	5.50	14.75
Panel B – Countries and years of reform
Austria	1983, 1993	Slovak Republic		2005
Canada	1997, 2005	Spain		1985, 1993
Denmark	1995	Sweden		1999
Greece	1993	United Kingdom		1983, 1999
Ireland	1985, 1989, 1995	United States		1987