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Fiscal Multipliers and the Labour Market in the Open Economy
Faia, Ester - 2010
Several contributions have recently assessed the size of fiscal multipliers both in RBC models and New Keynesian models. None of the studies considers a model with frictional labour markets which is a crucial element, particularly at times in which much of the fiscal stimulus has been directed...
Persistent link: https://www.econbiz.de/10013146168
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Regional Consumption Responses and the Aggregate Fiscal Multiplier
Dupor, Bill; Karabarbounis, Marios; Kudlyak, Marianna; … - 2022
responses to an aggregate fiscal multiplier using a multi-region, New Keynesian model with heterogeneous agents, incomplete … markets, and trade linkages. Our model is consistent with the estimated positive local multiplier, a result that distinguishes … multiplier is twice as large as the local multiplier because trade linkages propagate the effect of government spending across …
Persistent link: https://www.econbiz.de/10014083720
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Fiscal Competition and the Composition of Public Spending : Theory and Evidence
Borck, Rainald - 2006
In this paper, we consider fiscal competition between jurisdictions. Capital taxes are used to finance a public input and two public goods, one which benefits mobile skilled workers and one which benefits immobile unskilled workers. We derive the jurisdictions' reaction functions for different...
Persistent link: https://www.econbiz.de/10012779045
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Optimal Fiscal Devaluation
Langot, François - 2012
We study fiscal devaluation in a small-open economy with labor market search frictions. Our analysis shows the key role of both dimensions in shaping the optimal tax scheme. By reducing labor market distortions, the tax reform is welfare-improving. Yet, as it makes imports more expensive, fiscal...
Persistent link: https://www.econbiz.de/10013104944
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Global Aging and Fiscal Policy with International Labor Mobility : A Political Economy Perspective
Tosun, Mehmet Serkan - 2009
This paper uses an overlapping generations model with international labor mobility and a politically responsive fiscal policy to examine aging in developed and developing regions. Migrant workers change the political structure composed of young and elderly voters in both labor-receiving and...
Persistent link: https://www.econbiz.de/10013159749
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Fiscal Policy, Interest Rate Spreads, and the Zero Lower Bound
Bredemeier, Christian - 2015
macroeconomic model which reproduces this observation. The model predicts that the fiscal multiplier takes conventional values …
Persistent link: https://www.econbiz.de/10013023757
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Wage Rigidity or Fiscal Redistribution? The Unemployment Bias of Time Consistent Redistributive Policies
Lehmann, Etienne - 2021
Because of Time Inconsistency considerations, policymakers underestimate the drawbacks of wage rigidity as a redistributive tool. Consequently, they redistribute inefficiently income from high to low skilled workers. They typically implement too much wage rigidity whereas other means (in...
Persistent link: https://www.econbiz.de/10013317603
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Should the Rich Be Taxed More? The Fiscal Inequality Coefficient
Hatgioannides, John - 2017
This paper holistically addresses the effective (relative) income tax contribution of a given in-come (or, wealth) group. The widely acclaimed standard in public policy is the absolute benefaction of a given income group in filling up the fiscal coffers. Instead, we focus on the ratio of the...
Persistent link: https://www.econbiz.de/10012948621
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Optimal Fiscal Policy with Labor Selection
Chugh, Sanjay K. - 2018
This paper characterizes long-run and short-run optimal fiscal policy in the labor selection framework. In a calibrated non-Ramsey decentralized equilibrium, labor market volatility is inefficient. Keeping fixed the structural parameters, the Ramsey government achieves efficient labor market...
Persistent link: https://www.econbiz.de/10012915713
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The Social Multiplier and Labour Market Participation of Mothers
Maurin, Eric; Moschion, Julie - 2021
A mother's decision to participate in the labour market is correlated with those of the other mothers living in the same neighbourhood. This paper studies the extent to which this is causal. An identification problem exists because mothers with similar characteristics are often observed living...
Persistent link: https://www.econbiz.de/10013317281