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| Author: | Kaas, L. Thadden, L. von |
| Title: | Budgetary policy and unemployment dynamics in an OLG model |
| Journal: | Economic Journal
2004 : OCT, VOL. 114:498, p. 867-889 |
| Index terms: | Budgeting Unemployment |
| Language: | eng |
| Abstract: | This article develops a general equilibrium model with capital accumulation and collective wage bargaining in order to examine how unemployment responds to structural shocks with two stylised budgetary policies. With balanced budgets, tax adjustments lead to higher unemployment on impact but enable a quick recovery of employment. On the other hand, unbalanced budgets mitigate unemployment effects on impact but dynamics are more persistent. |
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