The Effects of Fiscal Shocks on Employment and the Real Wage
The Effects of Fiscal Shocks on Employment and the Real Wage
复制标题
财政冲击对就业和实际工资的影响
DOI：
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发表时间：
2009
期刊：
影响因子：
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通讯作者：
Evi Pappa
中科院分区：
文献类型：
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作者：
Evi Pappa
我们研究财政冲击在劳动力市场的传导。我们采用结构性VAR，并基于对政府消费、投资和就业的冲击必须提高产出和赤字的限制进行识别。这些限制在原型真实的商业周期（RBC）和新凯恩斯主义模型中都存在。对政府消费和投资的冲击同时提高了真实的工资和就业，无论是在州一级还是在总体上。应对就业冲击的动态是复杂的：政府就业的增加提高了总体上的真实的工资和总就业。然而，在三分之一的州，它们减少了总就业人数。
We study the transmission of fiscal shocks in the labor market. We employ a structural VAR and base identification on the restrictions that shocks to government consumption, investment, and employment must raise output and deficits. These restrictions hold in both prototype Real Business Cycle (RBC) and New Keynesian models. Shocks to government consumption and investment increase real wages and employment contemporaneously, both at state level and in the aggregate. The dynamics in response to employment shocks are mixed: Increases in government employment raise the real wage and total employment in the aggregate. However, in one third of the states they reduce total employment.