Labour share heterogeneity and fiscal consolidation programs
Autor(a) principal: | |
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Data de Publicação: | 2020 |
Tipo de documento: | Dissertação |
Idioma: | eng |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | http://hdl.handle.net/10362/111524 |
Resumo: | We show that the labour share of income is an important factor affecting the mechanisms behind fiscal consolidation programs, thus requiring consideration when evaluating fiscal mul- tipliers across countries. We calibrate a life-cycle, overlapping generations model to match key characteristics of different European economies and evaluate the recessive impacts of fiscal consolidation programs. We find a positive relationship between the labour share and the impact fiscal multipliers generated by our model. This result directly follows from the higher weight of labour on production and the lower opportunity cost of leisure present in economies with a higher labour share. Following the impact period, the relationship between the labour share and the fiscal multipliers is dependant on the type of fiscal instrument employed in the consolidation. |
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Labour share heterogeneity and fiscal consolidation programsFiscal consolidationLabour shareFiscal multipliersPublic debtDomínio/Área Científica::Ciências Sociais::Economia e GestãoWe show that the labour share of income is an important factor affecting the mechanisms behind fiscal consolidation programs, thus requiring consideration when evaluating fiscal mul- tipliers across countries. We calibrate a life-cycle, overlapping generations model to match key characteristics of different European economies and evaluate the recessive impacts of fiscal consolidation programs. We find a positive relationship between the labour share and the impact fiscal multipliers generated by our model. This result directly follows from the higher weight of labour on production and the lower opportunity cost of leisure present in economies with a higher labour share. Following the impact period, the relationship between the labour share and the fiscal multipliers is dependant on the type of fiscal instrument employed in the consolidation.Brinca, PedroRUNFreitas, Bruno Miguel Esteves2021-02-09T09:53:20Z2020-01-222020-012020-01-22T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisapplication/pdfhttp://hdl.handle.net/10362/111524TID:202609197enginfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2024-03-11T04:55:18Zoai:run.unl.pt:10362/111524Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-20T03:41:55.368316Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse |
dc.title.none.fl_str_mv |
Labour share heterogeneity and fiscal consolidation programs |
title |
Labour share heterogeneity and fiscal consolidation programs |
spellingShingle |
Labour share heterogeneity and fiscal consolidation programs Freitas, Bruno Miguel Esteves Fiscal consolidation Labour share Fiscal multipliers Public debt Domínio/Área Científica::Ciências Sociais::Economia e Gestão |
title_short |
Labour share heterogeneity and fiscal consolidation programs |
title_full |
Labour share heterogeneity and fiscal consolidation programs |
title_fullStr |
Labour share heterogeneity and fiscal consolidation programs |
title_full_unstemmed |
Labour share heterogeneity and fiscal consolidation programs |
title_sort |
Labour share heterogeneity and fiscal consolidation programs |
author |
Freitas, Bruno Miguel Esteves |
author_facet |
Freitas, Bruno Miguel Esteves |
author_role |
author |
dc.contributor.none.fl_str_mv |
Brinca, Pedro RUN |
dc.contributor.author.fl_str_mv |
Freitas, Bruno Miguel Esteves |
dc.subject.por.fl_str_mv |
Fiscal consolidation Labour share Fiscal multipliers Public debt Domínio/Área Científica::Ciências Sociais::Economia e Gestão |
topic |
Fiscal consolidation Labour share Fiscal multipliers Public debt Domínio/Área Científica::Ciências Sociais::Economia e Gestão |
description |
We show that the labour share of income is an important factor affecting the mechanisms behind fiscal consolidation programs, thus requiring consideration when evaluating fiscal mul- tipliers across countries. We calibrate a life-cycle, overlapping generations model to match key characteristics of different European economies and evaluate the recessive impacts of fiscal consolidation programs. We find a positive relationship between the labour share and the impact fiscal multipliers generated by our model. This result directly follows from the higher weight of labour on production and the lower opportunity cost of leisure present in economies with a higher labour share. Following the impact period, the relationship between the labour share and the fiscal multipliers is dependant on the type of fiscal instrument employed in the consolidation. |
publishDate |
2020 |
dc.date.none.fl_str_mv |
2020-01-22 2020-01 2020-01-22T00:00:00Z 2021-02-09T09:53:20Z |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/masterThesis |
format |
masterThesis |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://hdl.handle.net/10362/111524 TID:202609197 |
url |
http://hdl.handle.net/10362/111524 |
identifier_str_mv |
TID:202609197 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.source.none.fl_str_mv |
reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação instacron:RCAAP |
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Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
instacron_str |
RCAAP |
institution |
RCAAP |
reponame_str |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
collection |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
repository.name.fl_str_mv |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
repository.mail.fl_str_mv |
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1799138031680094208 |