Obst, Thomas; Onaran, Özlem; Nikolaidi, Maria - 2017
aggregate demand in EU15 countries. The results show that a policy mix that combines the simultaneous implementation of a pro …-labour wage policy, an expansionary fiscal policy and a progressive tax policy in all EU countries leads to a significant rise in … the EU15 GDP. The impact of wage policies is positive but small; the overall stimulus becomes much stronger with fiscal …