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Wage-Price Dynamics and Structural Reforms in Japan
Porcellacchia, Davide - 2016
Structural reforms in the liquidity trap need not be deflationary. This paper develops a simple framework to study the … role that key characteristics of Japan's labor and product markets-labor-market duality and weak corporate governance … reforms may contribute to Japan's short-run goal of reflating the economy. It finds that boosting inflation with structural …
Persistent link: https://www.econbiz.de/10012996094
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Fiscal Policy Implications for Labor Market Outcomes in Middle-Income Countries
Lemus, Antonio - 2015
Many governments have initiated public employment programs or expanded the existing ones in response to high unemployment. However, in many middle-income countries, a relatively large government coexists with persistently high unemployment. This paper explores the question of whether public...
Persistent link: https://www.econbiz.de/10013036636
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Fiscal policy implications for labor market outcomes in middle-income countries
Stepanyan, Ara; Leigh, Lamin - 2015
Many governments have initiated public employment programs or expanded the existing ones in response to high unemployment. However, in many middle-income countries, a relatively large government coexists with persistently high unemployment. This paper explores the question of whether public...
Persistent link: https://www.econbiz.de/10014275789
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Optimal monetary and fiscal policy in a currency union
Galí, Jordi; Monacelli, Tommaso - 2006
Persistent link: https://www.econbiz.de/10003294244
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Policy volatility, institutions and economic growth
Fatás, Antonio - 2005
Persistent link: https://www.econbiz.de/10013424713
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Debt, deficits and destabilizing monetary policy in open economies
Schabert, Andreas; Wijnbergen, Sweder van - 2006
Persistent link: https://www.econbiz.de/10003311073
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Liquidity traps, learning and stagnation
Evans, George W.; Guse, Eran; Honkapohja, Seppo - 2007
Persistent link: https://www.econbiz.de/10003502747
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Tax reforms and fiscal shock smoothing
Amaglobeli, David; Jaramillo Echeverri, Laura; Karnane, … - 2019
This paper examines the role of tax policy reforms in enhancing fiscal shock smoothing in a panel of 13 OECD economies during the period 1980-2017. The results suggest that tax reforms, in particular those that broaden the tax base, significantly enhance the ability of fiscal policy to mitigate...
Persistent link: https://www.econbiz.de/10012021994
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Fiscal Rules and the Budget Process
Milesi-Ferretti, Gian Maria - 2006
This paper examines the rationale for the imposition of fiscal rules as a way to reduce budgetary imbalances. It presents theoretical arguments for the existence of a quot;fiscal deficit biasquot; and the empirical evidence on the economic, political and institutional factors leading to this...
Persistent link: https://www.econbiz.de/10012782040
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The Design of Fiscal Reform Packages : Insights from a Theoretical Endogenous Growth Model
Hodge, Andrew - 2016
This paper studies the impact on growth, welfare, and government debt of fiscal reform packages in a theoretical model drawing together three key features of the endogenous growth literature: (i) investment in technology (in the form of human capital) offsets diminishing marginal productivity of...
Persistent link: https://www.econbiz.de/10012977816