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Chile’s small open economy with significant mismatch between the production and consumption baskets may be represented by three stylized sectors, a commodity sector, a non-commodity tradable sector, and a non-tradable sector. This paper estimates the effect of copper price shocks on mining, manufacturing, and construction—each embodying a sector type. The empirical findings are for positive spillovers from mining to the other two sectors. However, the estimated size of the spillovers seems modest, which raises the question of the potential for mining to be better integrated with the rest of the economy.

Foreign Exchange --- Macroeconomics --- Industries: Manufacturing --- Natural Resource Extraction --- Metals and Metal Products --- Cement --- Glass --- Ceramics --- Industry Studies: Primary Products and Construction: General --- Industry Studies: Manufacturing: General --- Externalities --- Macroeconomics and Monetary Economics: General --- Prices, Business Fluctuations, and Cycles: General (includes Measurement and Data) --- International Factor Movements and International Business: General --- Regional Economic Activity: Growth, Development, and Changes --- Size and Spatial Distributions of Regional Economic Activity --- Extractive industries --- Manufacturing industries --- Currency --- Foreign exchange --- Metal prices --- Mining sector --- Manufacturing --- Real effective exchange rates --- Positive spillovers --- Prices --- Economic sectors --- Financial sector policy and analysis --- Metals --- Mineral industries --- International finance --- Chile

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This paper investigates the asymmetries in trade spillovers from sector-specific technology shocks in China to selected euro area countries. We use a Ricardian-gravity trade model to estimate sectoral competitiveness in individual euro area countries. Simulations on the impact of productivity shocks in Chinese textiles and machinery suggest that the required adjustment in wages, prices, and factor re-allocation is widely heterogenous across euro area countries on accounts of their different specialization patterns. This raises the question of the distribution of gains and losses from external trade shocks.

Commerce --- Business & Economics --- Local Commerce --- International trade. --- European Economic Community countries --- China --- Commerce. --- External trade --- Foreign commerce --- Foreign trade --- Global commerce --- Global trade --- Trade, International --- World trade --- Common market countries --- European common market countries --- International economic relations --- Non-traded goods --- Europe --- European Union countries --- Econometric models. --- E-books --- EU countries --- Euroland --- Cina --- Kinë --- Cathay --- Chinese National Government --- Chung-kuo kuo min cheng fu --- Republic of China (1912-1949) --- Kuo min cheng fu (China : 1912-1949) --- Chung-hua min kuo (1912-1949) --- Kina (China) --- National Government (1912-1949) --- China (Republic : 1912-1949) --- People's Republic of China --- Chinese People's Republic --- Chung-hua jen min kung ho kuo --- Central People's Government of Communist China --- Chung yang jen min cheng fu --- Chung-hua chung yang jen min kung ho kuo --- Central Government of the People's Republic of China --- Zhonghua Renmin Gongheguo --- Zhong hua ren min gong he guo --- Kitaĭskai︠a︡ Narodnai︠a︡ Respublika --- Činská lidová republika --- RRT --- Republik Rakjat Tiongkok --- KNR --- Kytaĭsʹka Narodna Respublika --- Jumhūriyat al-Ṣīn al-Shaʻbīyah --- RRC --- Kitaĭ --- Kínai Népköztársaság --- Chūka Jinmin Kyōwakoku --- Erets Sin --- Sin --- Sāthāranarat Prachāchon Čhīn --- P.R. China --- PR China --- Chung-kuo --- Zhongguo --- Zhonghuaminguo (1912-1949) --- Zhong guo --- Chine --- République Populaire de Chine --- República Popular China --- Catay --- VR China --- VRChina --- 中國 --- 中国 --- 中华人民共和国 --- Jhongguó --- Bu̇gu̇de Nayiramdaxu Dundadu Arad Ulus --- Bu̇gu̇de Nayiramdaqu Dumdadu Arad Ulus --- Bu̇gd Naĭramdakh Dundad Ard Uls --- Khi︠a︡tad --- Kitad --- Dumdadu Ulus --- Dumdad Uls --- Думдад Улс --- Kitajska --- China (Republic : 1949- ) --- PRC --- P.R.C. --- BNKhAU --- БНХАУ --- Exports and Imports --- Finance: General --- Labor --- Neoclassical Models of Trade --- Empirical Studies of Trade --- Size and Spatial Distributions of Regional Economic Activity --- Innovation --- Research and Development --- Technological Change --- Intellectual Property Rights: General --- Wages, Compensation, and Labor Costs: General --- Trade: General --- General Financial Markets: General (includes Measurement and Data) --- International economics --- Technology --- general issues --- Labour --- income economics --- Finance --- Wages --- Trade deficits --- Exports --- Competition --- International trade --- Financial markets --- Balance of trade --- China, People's Republic of --- General issues --- Income economics

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The paper presents a simple supply side, general equilibrium model to estimate the macroeconomic effects of labor tax cuts. The model assumes that output is produced using capital, unskilled and skilled workers, and public servants. Wage formation for skilled workers features a Blanchflower-Oswald wage curve, while the labor supply for unskilled workers is very elastic around the minimum wage for small changes in employment. The model is calibrated for France and used to estimate the output and employment effects induced by two recent tax reforms: the Crédit d’Impôt pour la Compétitivité et l’Emploi (CICE) and the Pacte de Solidarité Responsabilité (RSP). We find that the tax cuts, if not offset by other fiscal measures, would contribute overall to creating around 200,000 jobs in the short run (600,000 jobs in the long run). Since the model abstracts from demand side effects, the results should be interpreted as providing estimates of the effect of tax measures on potential output and potential employment.

Minimum wage --- Social security taxes --- Labor market --- Payroll tax (Social security) --- Social security --- Taxation --- Wages --- Withholding tax --- Minimum wages --- Living wage movement --- Labor --- Business Fluctuations --- Cycles --- Fiscal Policy --- Policy Objectives --- Policy Designs and Consistency --- Policy Coordination --- Taxation, Subsidies, and Revenue: General --- National Budget, Deficit, and Debt: General --- Wages, Compensation, and Labor Costs: General --- Employment --- Unemployment --- Intergenerational Income Distribution --- Aggregate Human Capital --- Aggregate Labor Productivity --- Personal Income and Other Nonbusiness Taxes and Subsidies --- Labour --- income economics --- Welfare & benefit systems --- Labor costs --- Public employment --- Labor taxes --- Taxes --- Economic theory --- Income tax --- France --- Income economics

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This paper explores the impact of fiscal and labor market policies on efficiency, inequality, and fiscal outcomes in France. We extend the general equilibrium model calibrated for France by Alla and others (2015), with measures of labor and capital income for different groups in the economy (the unemployed, unskilled workers, skilled workers, public servants). For each of these groups we combine data on the income distribution with the outcomes of policy simulations to assess the impact of a suite of stylized policies on output, the fiscal balance, the Gini coefficient, and the shape of the Lorenz curve. We find that most types of fiscal expansions, while adding to the deficit and debt in the near term, generally reduce inequality, the main exception being capital income tax cuts. A reduction of the minimum wage has an ambiguous impact on the income distribution: the Gini coefficient increases, but the lowest income quintile improves its relative position in the income distribution thanks to positive employment effects. The paper also finds scope for “win-win” policy packages that could improve overall efficiency, inequality, and fiscal outcomes, for instance if targeted labor tax reductions are offset by cuts in the public wage bill.

Fiscal policy --- Manpower policy --- Employment policy --- Human resource development --- Labor market --- Labor market policy --- Manpower utilization --- Labor policy --- Labor supply --- Trade adjustment assistance --- Finance. --- Government policy --- Labor --- Macroeconomics --- Taxation --- Personal Income, Wealth, and Their Distributions --- Factor Income Distribution --- Equity, Justice, Inequality, and Other Normative Criteria and Measurement --- Employment --- Unemployment --- Wages --- Intergenerational Income Distribution --- Aggregate Human Capital --- Aggregate Labor Productivity --- General Financial Markets: Government Policy and Regulation --- National Government Expenditures and Welfare Programs --- Government Policy --- Provision and Effects of Welfare Program --- Aggregate Factor Income Distribution --- Wages, Compensation, and Labor Costs: General --- Personal Income and Other Nonbusiness Taxes and Subsidies --- Wages, Compensation, and Labor Costs: Public Policy --- Labour --- income economics --- Welfare & benefit systems --- Income inequality --- Income distribution --- Labor taxes --- Minimum wages --- National accounts --- Taxes --- Income tax --- Minimum wage --- France --- Income economics

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The EU Services Directive was adopted in 2006 to foster competition in services across Europe. However, progress in liberalizing services has fallen short of expectations due to the article 15 of the Directive, which allows countries to maintain pre-existing restrictions if judged necessary to protect the public interest. Through input output analysis, this paper finds important multiplier effects of greater efficiency services to the rest of the economy. A renewed impulse to the liberalization process could be given by enhancing the advocacy role of national competition authorities in interpreting the notion of public interest underpinning existing regulations.

Commercial policy. --- Economic development. --- International finance. --- International monetary system --- International money --- Finance --- International economic relations --- Development, Economic --- Economic growth --- Growth, Economic --- Economic policy --- Economics --- Statics and dynamics (Social sciences) --- Development economics --- Resource curse --- Foreign trade policy --- International trade --- International trade policy --- Trade policy --- Government policy --- Finance: General --- Macroeconomics --- Industries: Service --- Production and Operations Management --- Business Fluctuations --- Cycles --- Fiscal Policy --- Policy Objectives --- Policy Designs and Consistency --- Policy Coordination --- Taxation, Subsidies, and Revenue: General --- National Budget, Deficit, and Debt: General --- General Financial Markets: General (includes Measurement and Data) --- Macroeconomics: Production --- Labor Economics: General --- Industry Studies: Services: General --- Production --- Cost --- Capital and Total Factor Productivity --- Capacity --- Labour --- income economics --- Competition --- Productivity --- Labor --- Services sector --- Total factor productivity --- Financial markets --- Economic sectors --- Industrial productivity --- Labor economics --- Service industries --- France --- Income economics