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ISBN: 1475565550 Year: 2014 Publisher: Washington, D.C. : International Monetary Fund,
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This paper examines the impact of fiscal policy on employment through the lenses of Okun’s Law. Looking at the panel of OECD countries over the past three decades, we find that fiscal policy can affect employment beyond the impact it is traditionally assumed to exert through the output multiplier. In particular, this impact is found to be effective for most items of current discretionary expenditure and for corporate income taxes and social security contributions. Okun’s Law is found to be stable under almost all model specifications, but higher spending on subsidies and lower social security contributions can amplify the impact of the output gap on employment gaps.
Book
ISBN: 9780230522237 0230522238 Year: 2008 Publisher: New York: Palgrave MacMillan,
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Finance, Public --- Finances publiques --- Developing countries --- Pays en développement --- Economic policy --- Politique économique --- Developed countries --- -336.091724 --- Cameralistics --- Public finance --- Currency question --- -Advanced countries --- Advanced nations --- Developed nations --- Economically advanced countries --- Economically advanced nations --- First World --- Industrial countries --- Industrial nations --- Industrial societies --- Industrialized countries --- Industrialized nations --- Western countries --- -Economic policy --- Pays en développement --- Politique économique --- Économie politique --- Finance, Public - Developed countries --- Developed countries - Economic policy --- Économie politique
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