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To make progress, we draw a parallel with model uncertainty in the growth literature and provide a new version of the Bayesian averaging of maximum likelihood estimates (BAMLE) technique tailored to binary logit models. Relying on a new database of major past labor and product market reforms in advanced countries, we test a large set of variables for robust correlation with reform in each area. We find widespread support for the crisis\u2010induces\u2010reform hypothesis, as high unemployment and economic crises are robustly correlated to structural reforms. We also find evidence of reform convergence\u2014that is, countries with tighter regulation are more prone to liberalize. Reforms are more likely when other countries also undertake them and when there is formal pressure to implement them. Other robust correlates are more specific to certain areas\u2014for example, international pressure and political factors are most relevant for product market and job protection reforms, respectively.<\/jats:p>","DOI":"10.1002\/jae.2791","type":"journal-article","created":{"date-parts":[[2020,6,20]],"date-time":"2020-06-20T19:40:25Z","timestamp":1592682025000},"page":"98-124","update-policy":"https:\/\/doi.org\/10.1002\/crossmark_policy","source":"Crossref","is-referenced-by-count":23,"title":["Robust political economy correlates of major product and labor market reforms in advanced economies: Evidence from BAMLE for logit models"],"prefix":"10.1002","volume":"36","author":[{"given":"Romain","family":"Duval","sequence":"first","affiliation":[{"name":"International Monetary Fund (IMF) USA"}],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Davide","family":"Furceri","sequence":"additional","affiliation":[{"name":"International Monetary Fund (IMF) USA"}],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Jakob","family":"Miethe","sequence":"additional","affiliation":[{"name":"Ludwig\u2010Maximilians\u2010University Munich Germany"},{"name":"Deutsches Institut f\u00fcr Wirtschaftsforschung e.V. 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