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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
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Staggered prices and trend inflation: some nuisances
Ascari, Guido - EconWPA - 2004
Most of the papers in the sticky-price literature are based on a log- linearization around the zero inflation steady state, a simplifying but counterfactual assumption. This paper shows that when trend inflation is considered, both the long-run and the short-run properties of DGE models based on...
Persistent link: https://www.econbiz.de/10005076806
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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