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dc.contributor.authorSchwarzmüller, Timen_US
dc.contributor.authorStähler, Nikolaien_US
dc.date.accessioned2011-12-21en_US
dc.date.accessioned2012-01-18T12:04:55Z-
dc.date.available2012-01-18T12:04:55Z-
dc.date.issued2011en_US
dc.identifier.isbn978-3-86558-765-7en_US
dc.identifier.urihttp://hdl.handle.net/10419/54719-
dc.description.abstractThis paper uses an extended version of 'FiMod - A DSGE Model for Fiscal Policy Simulations' (Stähler and Thomas, 2011) with endogenous job destruction decisions by private firms to analyze the effects of several currently discussed labor market reforms on the Spanish economy. The main focus is on the firms' hiring and firing decisions, on the implications for fiscal balances and on Spain's international competitiveness. We find that measures aiming at reducing (policy-induced) outside option of workers, such as a decrease in unemployment benefits, public wages or, to a lesser extent, public-sector employment, seem most beneficial to foster output, employment, international competitiveness and fiscal balances. Decreasing the unions' bargaining power also accomplishes this task, however, at a lower level and at the cost of higher job turnover. Our simulation suggests that reforming employment protection legislation does not seem to be a suitable tool from the perspective of improving international competitiveness. All measures imply (income) redistribution between optimizing and liquidity-constrained consumers. Our analysis also suggests that those reforms that are beneficial for Spain generate positive spillovers to the rest of EMU, too.en_US
dc.language.isoengen_US
dc.publisherDt. Bundesbank Frankfurt, M.en_US
dc.relation.ispartofseriesDiscussion Paper Series 1: Economic Studies 2011,28en_US
dc.subject.jelE24en_US
dc.subject.jelE32en_US
dc.subject.jelE62en_US
dc.subject.jelH20en_US
dc.subject.jelH50en_US
dc.subject.ddc330en_US
dc.subject.keywordgeneral equilibriumen_US
dc.subject.keywordfiscal policy simulationsen_US
dc.subject.keywordlabor market searchen_US
dc.subject.stwArbeitsmarktpolitiken_US
dc.subject.stwReformen_US
dc.subject.stwArbeitsmarktflexibilitäten_US
dc.subject.stwWirkungsanalyseen_US
dc.subject.stwArbeitsucheen_US
dc.subject.stwInternationaler Wettbewerben_US
dc.subject.stwAllgemeines Gleichgewichten_US
dc.subject.stwSchätzungen_US
dc.subject.stwSpanienen_US
dc.titleReforming the labor market and improving competitiveness: An analysis for Spain using FiModen_US
dc.typeWorking Paperen_US
dc.identifier.ppn680298959en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
dc.identifier.repecRePEc:zbw:bubdp1:201128-
Appears in Collections:Discussion Paper Series 1: Economic Studies, Deutsche Bundesbank

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