Romain Duval, Davide Furceri, and Jakob Miethe, "Robust Political Economy Correlates of Major Product and Labor Market Reforms in Advanced Economies: Evidence from BAMLE Logit Models", Journal of Applied Econometrics, Vol. 36, No. 1, 2021, pp. 98-124. All data are in the file dfm-data.csv, an ASCII file in DOS format, which is zipped in dfm-data.zip. Unix/Linux users should use "unzip -a". The data form an unbalanced macroeconomic panel dataset that includes data on the following 25 countries: Australia, Austria, Belgium, Canada, Czech Republic, Denmark, Finland, France, Germany, Greece, Iceland, Ireland, Italy, Japan, Korea, Luxembourg, Netherlands, New Zealand, Norway, Portugal, Spain, Sweden, Switzerland, the United Kingdom, and United States Below are details on every variable included in the dataset: "country" - is the country name standardized using the R package countrycode. See Arel-Bundock V, Enevoldsen N, Yetman C (2018). "countrycode: An R package to convert country names and country codes." Journal of Open Source Software, 3(28), 848. https://doi.org/10.21105/joss.00848. "year" - is the year in calender time Reform indicators are 0/1 dummies taken from the narrative database of: Romain Duval, Davide Furceri, Bingjie Hu, João Tovar Jalles, and Huy Nguyen. 2018. "A Narrative Database of Major Labor and Product Market Reforms in Advanced Economies". IMF Working Paper No. 18/19. https://www.imf.org/en/Publications/WP/Issues/2018/01/25/A-Narrative-Database-of-Major-Labor-and-Product-Market-Reforms-in-Advanced-Economies-45585 "shock_eplr" - is the reform indicator for reforms of employment protection legislation in regular contracts "shock_eplt" - is the reform indicator for reforms of employment protection legislation in temporary contracts "shock_pmrall" - is the reform indicator for product market reforms (all indicates all sectors) "shock_ub" - is the reform indicator for unemployment benefit reforms The regulation indicators that are used for each reform area capture reform pressure when existing regulation is stringent. We use the lag of the OECD indicators of the policy stance in each of our four reform areas (summary indicators of PMR, EPL for permanent and temporary contracts, and gross replacement rate of unemployment benefits over a five-year unemployment spell). One indicator is included for each reform area and lagged by one period. These indicators are publicly available here: http://www.oecd.org/regreform/regulatory-databases-and-indicators.htm last accessed the 20th of March 2020. "lepl_reg" - is the lag of the regulation indicator for employment protection legislation in regular contracts "lepl_temp" - is the lag of the regulation indicator for employment protection legislation in temporary contracts "lpmr" - is the lag of the regulation indicator for product market regulation "lgrr" - is the lag of the regulation indicator for the gross replacement rate "dgdpv" - is the log difference of real gdp taken from the World Economic Outlook database. The public World Economic Outlook (WEO) dataset is available here https://www.imf.org/external/pubs/ft/weo/2019/01/weodata/index.aspx last accessed the 20th of March, 2020. "lunr" - is the unemployment rate, taken from the same WEO datasource and used in levels, lagged by one period. deep_rec_gdp20" - variable is based on the gdp growth variable and counts the years a country is in its lowest 20% of GDP growth (results are robust to using other cutoffs). If a country has three consecutive years of lowest 20% of its gdp growth, this variable will have zeroes until then and then look like : ..., 0, 1, 2, 3, 0, ... "crisis" - is taken from Luc Laeven and Fabian Valencia. 2012. "Systemic banking crises database: An update". IMF Working Paper, No. 12/163. We use currency crises as well as sovereign debt and sovereign restructuring crises as dummy variables. "exrateIRR_fine"- The exchange rate variable is taken from Ethan Ilzetzki, Carmen Reinhart, and Kenneth Rogoff. 2017. "Exchange arrangements entering the 21st century: Which anchor will hold?" NBER Working Paper, No. 23134. They provide two types of which we use the fine version. It is employed as the authors provide it, as a continuous variable. "ltaylorproxy" - The monetary policy stance: the residual from a regression of the short term interest rate on CPI inflation and the cyclical component of GDP (HP detrended), again, these variables are taken from the IMF World Economic Outlook database. "lopen" - The openness variable: constructed as the usual ratio of exports plus imports, the total of which is divided by GDP. The three variables are taken from the IMF World Economic Outlook database. The resulting ratio is lagged by one year. "age65up" - The old age dependency ratio, defined as the ratio of the population aged 65 and above to the working age population, in percent is taken from the World Bank Development Indicators database. This database is publicly available here: http://datatopics.worldbank.org/world-development-indicators/ last accessed the 20th of March, 2020. "gini_net" "gini_market" - We employ two variables that capture inequality: the Gini coefficients based on net and gross income. Both are taken from the Standardized World Income Inequality Database (SWIID) available here: https://dataverse.harvard.edu/dataset.xhtml?persistentId=doi:10.7910/DVN/LM4OWF last accessed the 20th of March, 2020 "gvt_debt" - Government debt is again taken from the IMFs World Economic Outlook database, divided by the GDP variable introduced above it provides the debt to GDP ratio we use. "PreEUacc3y" - The EMU accession dummy (active in t-3 : t-1) is constructed based on the date of accession to the monetary union which we manually collected. To avoid an issue of perfect separation, this dummy is omitted for reforms in EPL for regular contracts as it does not coincide with a single reform in that area. It reads like ..., 0, 1, 1, 1, 0, ... "EUd3y" - We also use data on EU directives in product markets, taken from: Romain Bouis, Romain Duval, and Johannes Eugster. 2020. How fast does product market reform pay off? New evidence from non-manufacturing industry deregulation in advanced economies. Journal of Comparative Economics, 48(1):198--217. They construct them using the comprehensive historical list of all single market directives available on the European Commission website; specifically, we include the number of directives from t-3 to t-1. This variable is only used in the variable list for product market reforms. "execrcl_cont" "exec_left" - Data on the political orientation of the government enters in two forms. First, we introduce a continuous variable measuring ideology from right (0) to left (2) through center (1). In order to investigate the effect of leftwing governments, which has received some attention in the literature, we also include a dummy capturing such governments (1 for left, 0 for other). These data are based on the Database of Political Institutions available here: https://datacatalog.worldbank.org/dataset/wps2283-database-political-institutions last accessed the 20th of March, 2020. "un_den" - Union density is the share of workforce that is a member of a union, taken from the OECD available here: https://stats.oecd.org/Index.aspx?DataSetCode=TUD last accessed the 20th of March, 2020. The following five variables are taken from the Database of Political Institutions available here: https://datacatalog.worldbank.org/dataset/wps2283-database-political-institutions\\ last accessed the 20th of March, 2020. "herfgov" - The centralization of the government, measured as the squared parliamentary seat share of all government parties in office "numvote" - The vote share of the government "allhouse" - a dummy variable indicating if it controls all houses "yrcurnt" - the number of years a government has already spent in office, and "yrsoffc" - the number of years a government has left in its term "m_to_legelec" - Detailed data on the months left until the next legislative election is taken from Sanjeev Gupta, Estelle Liu, and Carlos- Mulas-Granados. 2016. "Now or later? The political economy of public investment in democracies". European Journal of Political Economy, 45, 101-114. It is extended manually where necessary. "m12elec" - We construct a dummy variable indicating forthcoming elections, which takes value 1 if the next election is scheduled to take place in less than 12 months in a given year. To capture foreign (``peer'') pressure for reform on the domestic economy, we collect reforms in the same field in all other countries in the sample based on the narrative reform database. We compute and use the total number of these foreign reforms over the last three years (t-3 : t-1). "intspill_shock_eplr" - for reforms of employment protection legislation in regular contracts "intspill_shock_eplt" - for reforms of employment protection legislation in temporary contracts "intspill_shock_pmrall" - for product market regulation reforms "intspill_shock_ub" - for reforms of unemployment benefits The variable of reform packaging counts reforms in the respective other three areas for each of the four reform areas. Again, the narrative reform database is used and a window from t-2 : t+2 is employed as the sequencing of different reforms is not clear. Results are robust to considering instead a window from t-1 : t+1. "dompack2_shock_eplr" - for reforms of employment protection legislation in regular contracts "dompack2_shock_eplt" - for reforms of employment protection legislation in temporary contracts "dompack2_shock_pmrall" - for product market regulation reforms "dompack2_shock_ub" - for reforms of unemployment benefits "reverse_eplr" - For employment protection legislation in regular contracts, there are 20 counter reforms in the data. This is the dummy variable that collects these reforms. It is used in the "Counter reforms" chapter only.