Using a panel of 17 countries for 1978–2009, we find that tax-driven consolidations increase unemployment by 0.25 percentage points. Labour market flexibility mitigates this: a one-point rise in the flexibility index reduces youth (long-term) unemployment by 0.6–0.7 (1.8–2.2) percentage points.
Agnello, L., Castro, V., Jalles, J., Sousa, R. (2014). Fiscal Adjustments, Labour Market Flexibility and Unemployment. ECONOMICS LETTERS, 124(2), 231-235 [10.1016/j.econlet.2014.05.029].
Fiscal Adjustments, Labour Market Flexibility and Unemployment
AGNELLO, Luca;
2014-01-01
Abstract
Using a panel of 17 countries for 1978–2009, we find that tax-driven consolidations increase unemployment by 0.25 percentage points. Labour market flexibility mitigates this: a one-point rise in the flexibility index reduces youth (long-term) unemployment by 0.6–0.7 (1.8–2.2) percentage points.
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