Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/179342 
Erscheinungsjahr: 
2018
Schriftenreihe/Nr.: 
ECB Working Paper No. 2127
Verlag: 
European Central Bank (ECB), Frankfurt a. M.
Zusammenfassung: 
We evaluate the effects of permanently reducing labour tax rates in the euro area (EA) by simulating a large-scale open economy dynamic general equilibrium model. The model features the EA as a monetary union, split in two regions (Home and the rest of the EA - REA), the US, and the rest of the world, region-specific labour markets with search and matching frictions, and public employment. Our results are as follows. First, a permanent reduction in labour tax rates in the Home region would have stimulating effects on domestic economic activity and employment. Second, reducing labour tax rates simultaneously in both Home and REA would have additional expansionary effects on the Home region. Third, in the short run the expansionary effects on the EA economy of a EA-wide tax reduction are enhanced if the EA monetary policy is accommodative.
Schlagwörter: 
DSGE models
labour taxes
unemployment
monetary union
open-economy macroeconomics
JEL: 
E24
E32
E52
E62
F45
Persistent Identifier der Erstveröffentlichung: 
ISBN: 
978-92-899-3232-5
Dokumentart: 
Working Paper

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