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Optimal fiscal policy with labor selection
Chugh, Sanjay K.; Lechthaler, Wolfgang; Merkl, Christian - 2016
non-Ramsey decentralized equilibrium, labor market volatility is inefficient. Keeping fixed the structural parameters, the … Ramsey government achieves efficient labor market volatility; doing so requires labor-income tax volatility that is orders of … to understand optimal tax volatility. …
Persistent link: https://www.econbiz.de/10011434257
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Efficiency and labor market dynamics in a model of labor selection
Chugh, Sanjay K.; Merkl, Christian - 2015 - First draft: September 2010, This draft: August 9, 2015
This paper characterizes efficient labor-market allocations in a labor selection model. The model's crucial aspect is cross-sectional heterogeneity for new job contacts, which leads to an endogenous selection threshold for new hires. With cross-sectional dispersion calibrated to microeconomic...
Persistent link: https://www.econbiz.de/10011306109
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Efficiency and labor market dynamics in a model of labor selection
Chugh, Sanjay K.; Merkl, Christian - 2015
This paper characterizes efficient labor-market allocations in a labor selection model. The model's crucial aspect is cross-sectional heterogeneity for new job contacts, which leads to an endogenous selection threshold for new hires. With cross-sectional dispersion calibrated to microeconomic...
Persistent link: https://www.econbiz.de/10011317662
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Optimal fiscal policy with labor selection
Chugh, Sanjay K.; Lechthaler, Wolfgang; Merkl, Christian - 2018 - This Draft: June 11, 2018
non-Ramsey decentralized equilibrium, labor market volatility is inefficient. Keeping fixed the structural parameters, the … Ramsey government achieves efficient labor market volatility; doing so requires labor-income tax volatility that is orders of … order to understand optimal tax volatility. …
Persistent link: https://www.econbiz.de/10011864654
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Optimal fiscal policy with labor selection
Chugh, Sanjay K.; Lechthaler, Wolfgang; Merkl, Christian - 2018
non-Ramsey decentralized equilibrium, labor market volatility is inefficient. Keeping fixed the structural parameters, the … Ramsey government achieves efficient labor market volatility; doing so requires labor-income tax volatility that is orders of … order to understand optimal tax volatility. …
Persistent link: https://www.econbiz.de/10011872840
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Efficiency and Labor Market Dynamics in a Model of Labor Selection
Chugh, Sanjay K.; Merkl, Christian - 2015
This paper characterizes efficient labor-market allocations in a labor selection model. The model’s crucial aspect is cross-sectional heterogeneity for new job contacts, which leads to an endogenous selection threshold for new hires. With cross-sectional dispersion calibrated to microeconomic...
Persistent link: https://www.econbiz.de/10011307140
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Efficiency and Labor Market Dynamics in a Model of Labor Selection
Chugh, Sanjay K.; Merkl, Christian - 2015
This paper characterizes efficient labor-market allocations in a labor selection model. The model's crucial aspect is cross-sectional heterogeneity for new job contacts, which leads to an endogenous selection threshold for new hires. With cross-sectional dispersion calibrated to microeconomic...
Persistent link: https://www.econbiz.de/10011345350
Cover Image
Optimal fiscal policy with labor selection
Chugh, Sanjay K.; Lechthaler, Wolfgang; Merkl, Christian - 2016
non-Ramsey decentralized equilibrium, labor market volatility is inefficient. Keeping fixed the structural parameters, the … Ramsey government achieves efficient labor market volatility; doing so requires labor-income tax volatility that is orders of … to understand optimal tax volatility. …
Persistent link: https://www.econbiz.de/10011434953
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Optimal Fiscal Policy with Labor Selection
Chugh, Sanjay K.; Lechthaler, Wolfgang; Merkl, Christian - In: Journal of Economic Dynamics and Control 94 (2018), pp. 142-189
non-Ramsey decentralized equilibrium, labor market volatility is inefficient. Keeping fixed the structural parameters, the … Ramsey government achieves efficient labor market volatility; doing so requires labor-income tax volatility that is orders of … order to understand optimal tax volatility. …
Persistent link: https://www.econbiz.de/10012490454
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Efficiency and labor market dynamics in a model of labor selection
Chugh, Sanjay K.; Merkl, Christian - 2011
-looking hiring and labor supply decisions, efficiency entails both static and intertemporal margins. We develop welfare …-finding rates, in line with empirical evidence. We show analytically in a simplified version of the model that volatility arises …
Persistent link: https://www.econbiz.de/10010277965