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A numerical approach to fiscal policy, unemployment, and growth in Europe

Daveri, Francesco; Maffezzoli, Marco - EconWPA - 2000

We calibrate an infinite-horizon model with endogenous growth and unemployment on actual data from the largest … taxes when financed either raising capital taxation or reducing unemployment subsidies. We find two main results: (i) with … lump-sum transfers, reducing labor taxes and unemployment subsidies is beneficial to both employment and growth, while …

Persistent link: https://www.econbiz.de/10005412655

Keynesian Dynamics and the Wage Price Spiral. A Baseline Disequilibrium Approach

Asada, Toichiro; Chen, Pu; Chiarella, Carl; Flaschel, Peter - EconWPA - 2004

We reformulate and extend the standard AS-AD growth model of the Neoclassical Synthesis (Stage I) with its traditional microfoundations. The model still has an LM curve in the place of a Taylor interest rate rule, exhibits sticky wages as well as sticky prices, myopic perfect foresight of...

Persistent link: https://www.econbiz.de/10005076720

Non-Walrasian Labor Markets and Real Business Cycles

Maffezzoli, Marco - EconWPA - 2000

model in Daveri and Maffezzoli (2000), where unemployment is generated by monopolistic unions, and calibrate it to reproduce …

Persistent link: https://www.econbiz.de/10005126464