Titlebook: Business Cycles and Macroeconomic Stability; Should We Rebuild Bu Jean-Oliver Hairault,Pierre-Yves Hénin,Franck Port Book 1997 Springer Sci

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The Cyclical Effects of Labour Market Policy the existence of employment protection helps smooth aggregate consumption whereas unemployment benefits do not. In addition, I find that both policies lead to an increase in the unconditional variance of the unemployment rate. This results from the large increase in persistence occasioned by both policies.

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tenance of economic stability". Besides the rare privilege of having being signed by both Milton Friedman and Paul Samuelson (Depres,Friedman, Hart, Samuelson, and Wallace [1950]), among others, this sentence expressed as soon as 1950 the consensus view on the stabilizing effect of fiscal rules gove

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Lawrence J. Berliner,Narasimham L. Parinandi which public capital is an input to the aggregate production function. In the other, we examine the effects on aggregate business cycle fluctuations of a proportional tax on lay-offs. Our results find only weak evidence for the stabilizing effects of either policy.

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Louise E. Porter,Tim Prenzler,Kelly Hineand taxes are distorsive. The resulting finding is that direct transfers based on the net foreign account of each country may provide a perfect risk sharing for private agents, but only if these latter do not modify their individual savings decisions.

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Emmanouil N. Anagnostou,Themis G. Chronis analyse the implications of fiscal restrictions such as the Maastricht convergence criteria, we undertake some policy analyses on our estimated model NiGEM. This analysis stresses the contractionary nature of these criteria and their implications for the level of European employment.

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Automatic Stabilizers in a European Perspectiveand taxes are distorsive. The resulting finding is that direct transfers based on the net foreign account of each country may provide a perfect risk sharing for private agents, but only if these latter do not modify their individual savings decisions.