| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP4934 |
| DP4934 Optimal Sliding Scale Regulation: An Application to Regional Electricity Distribution in England and Wales | |
| Paul Levine; Lester Hunt; Neil Rickman; David Hawdon | |
| 发表日期 | 2005-02-23 |
| 出版年 | 2005 |
| 语种 | 英语 |
| 摘要 | The macroeconomic effects of different ways of rolling back the welfare state are analysed. Cutting public spending on market goods induces a lower interest rate, a higher wage, a lower capital stock and a fall in employment. Cutting public employment or the labour income tax rate leads, in contrast, to a lower wage, a higher interest rate and a higher capital stock. Employment rises on impact. If the extra revenues of rolling back the welfare state are handed back via a lower tax rate rather than a lump-sum subsidy, both cutting public employment and cutting public spending on market goods induce an investment boom. Making the tax system less progressive by cutting tax credits and the labour income tax rate induces an investment boom as well. The effects of endogenous growth, adjustment costs for investment and non-Walrasian labour markets on these results are considered as well. |
| 主题 | International Macroeconomics |
| 关键词 | Fiscal retrenchment Public employment Labour market investment Growth |
| URL | https://cepr.org/publications/dp4934 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/533835 |
| 推荐引用方式 GB/T 7714 | Paul Levine,Lester Hunt,Neil Rickman,et al. DP4934 Optimal Sliding Scale Regulation: An Application to Regional Electricity Distribution in England and Wales. 2005. |
| 条目包含的文件 | 条目无相关文件。 | |||||
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
