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Structural Estimates of Equilibrium Unemployment in Six OECD Economies. ENEPRI Working Paper No. 22, July 2003

Horst, Albert van der. (2003) Structural Estimates of Equilibrium Unemployment in Six OECD Economies. ENEPRI Working Paper No. 22, July 2003. [Working Paper]

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    Abstract

    In Europe, neither unemployment rates nor institutions are uniform. In the EMU, countries have coordinated their monetary policy, and fiscal policy might follow. Does convergence in fiscal policy imply that unemployment rates will converge, too, or is diversified fiscal policy desirable? An answer to this question requires insight into the dependence on fiscal policy of the unemployment rate in equilibrium. This study estimates the equilibrium rate of unemployment and shows that it has been affected significantly by taxes and benefits. Uniform fiscal policy would not, however, harmonise the unemployment rates because the impact of policy varies widely across the OECD economies.

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    Item Type: Working Paper
    Subjects for non-EU documents: Other international institutions > OECD
    EU policies and themes > Policies & related activities > tax policy
    EU policies and themes > Policies & related activities > economic and financial affairs > fiscal policy
    EU policies and themes > Policies & related activities > employment/labour market > employment/unemployment
    Subjects for EU documents: UNSPECIFIED
    EU Series and Periodicals: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Series: Series > Centre for European Policy Studies (Brussels) > ENEPRI Working Papers
    Depositing User: Phil Wilkin
    Official EU Document: No
    Language: English
    Date Deposited: 14 Oct 2004
    Page Range: p. 36
    Last Modified: 15 Feb 2011 17:20
    URI: http://aei.pitt.edu/id/eprint/1846

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