Towards a quantitative theory of automatic stabilizers: The role of demographics
Author
dc.contributor.author
Janiak, Alexandre
Author
dc.contributor.author
Monteiro, Paulo Santos
Admission date
dc.date.accessioned
2016-10-24T20:12:48Z
Available date
dc.date.available
2016-10-24T20:12:48Z
Publication date
dc.date.issued
2016
Cita de ítem
dc.identifier.citation
Journal of Monetary Economics 78 (2016 )35–49
es_ES
Identifier
dc.identifier.other
10.1016/j.jmoneco.2015.12.006
Identifier
dc.identifier.uri
https://repositorio.uchile.cl/handle/2250/140952
Abstract
dc.description.abstract
Employment volatility is larger for young and old workers than for the prime aged. At the same time, in countries with high tax rates, the share of total hours supplied by young/old workers is lower. These two observations imply a negative correlation between government size and business cycle volatility. This paper assesses in a heterogeneous agent OLG model the quantitative importance of these two facts to account for the empirical relation between government size and macroeconomic stability.
es_ES
Patrocinador
dc.description.sponsorship
Fondecyt
1120593
1151053
CONICYT PIA (Anillo project SOC 1402 on Search models: implications for markets, social interactions and public policy)
Milennium Institute for Research in Market Imperfections and Public Policy
ICM IS130002