Fiscal Consolidation in Reformed and Unreformed Labour Markets: A Look at EU Countries
- ISBN-10
- 9279229834
- ISBN-13
- 9789279229831
- Category
- Debts, Public
- Pages
- 30
- Language
- English
- Published
- 2012
- Author
- Alessandro Turrini
Description
"This paper estimates the impact of fiscal consolidation on unemployment and job market flows across EU countries using a recent database of consolidation episodes built on the basis of a 'narrative' approach (Devries et al., 2011). Results show that the impact of fiscal consolidation on cyclical unemployment, is temporary and significant mostly for expenditure measures. As expected, the impact of fiscal policy shocks on job separation rates is much stronger in low-EPL countries, while high-EPL countries suffer from a stronger reduction in the rate at which new jobs are created. Since a reduced job-finding rate corresponds to a longer average duration of unemployment spells, fiscal policy shocks also tend to raise the share of long-term unemployment if EPL is stricter. Results are broadly confirmed when using 'top-down' fiscal consolidation measures based on adjusting budgetary data for the cycle."--Document home page.
Get the book
Similar books
-
Labor and Product Market Reforms in Advanced Economies: Fiscal Costs, Gains, and Support
By Mr.Tigran Poghosyan, Davide Furceri, Ms.Era Dabla-Norristc
-
Fiscal Reforms, Long-term Growth and Income Inequality
By Carolina Correa-Caro, Mr.Santiago Acosta Ormaechea, Mr.Takuji KomatsuzakiWe estimate the effects on growth of nine fiscal reform episodes in seven high-income countries using the Synthetic Control Method.
-
Lessons from Successful Labor Market Reformers in Europe
By Mr.Anthony AnnettWelfare states can be reformed successfully, and popular support for reforms can be maintained.
-
The Italian Labor Market: Recent Trends, Institutions, and Reform Options
By Mr.Martin SchindlerThis paper reviews Italy's institutional landscape and labor market trends from a cross-country perspective, and discusses possible avenues for further reform.
-
Public Employment and Compensation Reform During Times of Fiscal Consolidation
By Natalija Novta, Lorenzo ForniThis paper compiles and compares recent and past measures introduced to contain the public wage bill in a number of emerging and advanced economies to assess their effectiveness in bringing down expenditure in a sustained way.
-
The Cyclicality of Worker Flows: Evidence from Germany
By Daniela Nordmeier... Fiscal Policy Shocks in Germany: A Disaggregated SVAR Analysis,” Journal of Economics and Statistics (Jahrbücher für ... Consolidation in Reformed and Unreformed Labour Markets: A Look at EU Countries,” European Economy – Economic Papers ...
-
Labor Market Policies and IMF Advice in Advanced Economies during the Great Recession
By Mr.Prakash Loungani, Ms.Florence Jaumotte, Mr.Olivier J BlanchardThis paper does two things.
-
Tax Reform and the Dutch Labor Market: An Applied General Equilibrium Approach
By Ruud A. de Mooij, Ary Lans Bovenberg, Johan J. GraaflandThis paper employs MIMIC, an applied general equilibrium model of the Dutch economy, to explore various tax cuts aimed at combating unemployment and raising labor supply. MIMIC combines modern labor-market...
-
The Marginal Cost of Public Funds in the EU: The Case of Labour Versus Green Taxes
By Salvador Barrios, Jonathan Pycroft, Bert SaveynThis paper uses a computable general equilibrium model to gauge these potential distortions by calculating the marginal cost of public funds (MCF) for EU member states.
-
The Political Economy of Reform Lessons from Pensions, Product Markets and Labour Markets in Ten OECD Countries: Lessons from Pensions,...
By Tompson WilliamFerrara, P. (1997), “A Plan for Privatizing Social Security”, Cato Project on Social Security Privatization, ... Galston, W. (2007), “Why President Bush's 2005 Social Security Initiative Failed, and What It Means for the Future of the ...