We study empirically how various labor market institutions - (i) union density, (ii) unemployment benefit remuneration, and (iii) employment protection - shape fiscal multipliers and output volatility. Our theoretical model highlights that more stringent labor market institutions attenuate both...

In this paper, we shed light on the impacts of the COVID-19 pandemic on the labor market, and how they have evolved over most of the year 2020. Relying primarily on microdata from the CPS and state-level data on virus caseloads, mortality, and policy restrictions, we consider a range of...

The paper presents an assessment of macroeconomic and also some selected structural consequences of the proposed fiscal consolidation necessary for Poland to fulfil the Maastricht fiscal criteria. The fiscal adjustments are assessed with a CGE model simulated over the 2006-2008 horizon. Two sets...

This paper studies the impact of product and labour market structural reforms and the effects of their joint implementation with alternative debt consolidation strategies. The set-up is a DSGE model calibrated for the Greek economy. The results show that structural reforms produce important...

We propose a new fiscal transmission channel based on countercyclical monopsony power in the labor market. We develop a Two-Agent New Keynesian model incorporating a time-varying degree of monopsony power, with workers valuing various job aspects and firms having wage-setting power, inversely...

This paper uses data from an employee tracking survey in China for about 6000 incumbent workers to document their dynamic labor market outcomes throughout the year 2020. I find that the employment situation worsened sharply during the lockdown period and then recovered gradually, showing a "V"...

We investigate whether taxpayers respond to a large, ACA-induced upward tax notch at the Federal Poverty Level. Using administrative tax data, we document bunching in the income distribution and provide estimates of the taxable income elasticity. Our estimates are the only ones using US data...

This study considers the economic impact of Covid-19 on enterprises in four Central American countries - El Salvador, Guatemala, Honduras and Nicaragua. At the time of the analysis neither the pandemic nor its economic consequences had fully run their course. It is not, therefore, a definitive...

This study considers the economic impact of Covid-19 on enterprises in four Central American countries – El Salvador, Guatemala, Honduras and Nicaragua. At the time of the analysis neither the pandemic nor its economic consequences had fully run their course. It is not, therefore, a definitive...

The Canadian labour market experienced a period of unprecedented turmoil following the onset of the COVID-19 pandemic. We analyze the main changes using standard labour force statistics and new data on job postings. Envisaging a phase of temporary severing of employment relationships followed by...