Janiak, Alexandre and Santos Monteiro, Paulo orcid.org/0000-0002-2014-4824 (2016) Towards a quantitative theory of automatic stabilizers:The role of demographics. Journal of Monetary Economics. pp. 35-49. ISSN 0304-3932
Abstract
Employment volatility is larger for young and old workers than for the prime aged. At the same time, in countries with high tax rates, the share of total hours supplied by young/old workers is lower. These two observations imply a negative correlation between government size and business cycle volatility. This paper assesses in a heterogenous agent OLG model the quantitative importance of these two facts to account for the empirical relation between government size and macroeconomic stability.
Metadata
Item Type: | Article |
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Authors/Creators: |
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Copyright, Publisher and Additional Information: | Accepted for publication on the 14/12/2015 This is an author produced version of a paper accepted for publication in Journal of Monetary Economics. Uploaded in accordance with the publisher's self-archiving policy. |
Keywords: | Automatic stabilizers,Demographics,Distortionary taxes |
Dates: |
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Institution: | The University of York |
Academic Units: | The University of York > Faculty of Social Sciences (York) > Economics and Related Studies (York) |
Depositing User: | Pure (York) |
Date Deposited: | 17 Dec 2015 08:45 |
Last Modified: | 16 Oct 2024 12:43 |
Published Version: | https://doi.org/10.1016/j.jmoneco.2015.12.006 |
Status: | Published |
Refereed: | Yes |
Identification Number: | 10.1016/j.jmoneco.2015.12.006 |
Related URLs: | |
Open Archives Initiative ID (OAI ID): | oai:eprints.whiterose.ac.uk:92925 |