| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP5301 |
| DP5301 Making A Difference | |
| Patrick Francois | |
| 发表日期 | 2005-10-23 |
| 出版年 | 2005 |
| 语种 | 英语 |
| 摘要 | We study the mechanics of transmission of fiscal shocks to labour markets. We characterize a set of robust implications following government consumption, investment and employment shocks in a RBC and a New-Keynesian model and use part of them to identify shocks in the data. In line with the New-Keynesian story, shocks to government consumption and investment increase real wages and employment contemporaneously both in US aggregate and in US state data. The dynamics in response to employment shocks are mixed, but in many cases are inconsistent with the predictions of the RBC model. |
| 主题 | International Macroeconomics |
| 关键词 | Sticky and flexible prices Labour markets Sign-restrictions Vars |
| URL | https://cepr.org/publications/dp5301 |
| 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/534173 |
| 推荐引用方式 GB/T 7714 | Patrick Francois. DP5301 Making A Difference. 2005. |
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