کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
5099924 | 1377057 | 2007 | 37 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Fiscal policy in unionized labor markets
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موضوعات مرتبط
مهندسی و علوم پایه
ریاضیات
کنترل و بهینه سازی
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چکیده انگلیسی
This paper investigates the effects of fiscal policy on economic activity, public finances, welfare, and income distribution in a dynamic general equilibrium model with a unionized labor market. The paper shows that debt-financed increases of public employment, wages of public sector employees, unemployment benefits, and labor taxes put pressure on unions' wage claims, leading to higher private sector wages, lower employment, capital, and output. In addition, increases of public employment, public wages and unemployment benefits increase workers' utility relative to the pre-policy change equilibrium during the transition, but not in the long-run. Instead, workers' utility decreases at any time horizon when labor taxes increase. Capitalists always benefit from increases in taxes on labor but their welfare decreases when public spending goes up. Finally, the paper investigates the extent to which the way the government balances its budget affects these results.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Economic Dynamics and Control - Volume 31, Issue 5, May 2007, Pages 1498-1534
Journal: Journal of Economic Dynamics and Control - Volume 31, Issue 5, May 2007, Pages 1498-1534
نویسندگان
Silvia Ardagna,