Fiscal Consolidation and Public Wages is popular PDF and ePub book, written by Juin-Jen Chang in 2019-06-10, it is a fantastic choice for those who relish reading online the Business & Economics genre. Let's immerse ourselves in this engaging Business & Economics book by exploring the summary and details provided below. Remember, Fiscal Consolidation and Public Wages can be Read Online from any device for your convenience.
Fiscal Consolidation and Public Wages Book PDF Summary
A New Keynesian model with government production, public compensation, and unemployment is fit to U.S. data to study the macroeconomic and fiscal effects of public wage reductions. We find that accounting for the type of government spending is crucial for its macroeconomic implications. Although reductions in public wages and government purchases of goods have similar effects on total output and the fiscal balance, the former can raise private output slightly, in contrast to the substantial contractionary effects of the latter. In addition, the baseline estimation finds that exogenous public wage reductions decrease private wages. Model counterfactuals show that sufficiently rigid nominal private wages can reverse the response of private wages, as the rigidity dampens the labor reallocation effect from the public to private sector that exerts downward pressure on private wages.
Detail Book of Fiscal Consolidation and Public Wages PDF
- Author : Juin-Jen Chang
- Release : 10 June 2019
- Publisher : International Monetary Fund
- ISBN : 9781498316835
- Genre : Business & Economics
- Total Page : 52 pages
- Language : English
- PDF File Size : 9,5 Mb
If you're still pondering over how to secure a PDF or EPUB version of the book Fiscal Consolidation and Public Wages by Juin-Jen Chang, don't worry! All you have to do is click the 'Get Book' buttons below to kick off your Download or Read Online journey. Just a friendly reminder: we don't upload or host the files ourselves.