Public Employment and the Business Cycle
AbstractWe add a public employment sector to the basic search and matching model in order to study the business cycle impact of public wage and employment policies. The government is assumed to follow exogenous rules for public wages and employment calibrated to match some cyclical features of US policies. These features include a positive public wage premium and mildly procyclical public wages and employment. We find that the presence of the public sector increases the volatility of employment and output. Copyright The editors of the "Scandinavian Journal of Economics" 2008 .
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Bibliographic InfoArticle provided by Wiley Blackwell in its journal Scandinavian Journal of Economics.
Volume (Year): 109 (2008)
Issue (Month): 4 (03)
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Web page: http://onlinelibrary.wiley.com/journal/10.1111/(ISSN)1467-9442
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- D'Adamo, Gaetano, 2011. "Wage spillovers across sectors in Eastern Europe," MPRA Paper 27841, University Library of Munich, Germany.
- Gonzalo Fernández-de-Córdoba & Javier Pérez & José Torres, 2012.
"Public and private sector wages interactions in a general equilibrium model,"
Springer, vol. 150(1), pages 309-326, January.
- Gonzalo Fernández-de-Córdoba & Javier J. Pérez & José L. Torres, 2009. "Public and private sector wages interactions in a general equilibrium model," Banco de Espaï¿½a Working Papers 0924, Banco de Espa�a.
- Fernàndez-de-Córdoba, Gonzalo & Pérez, Javier J. & Torres, José L., 2009. "Public and private sector wages interactions in a general equilibrium model," Working Paper Series 1099, European Central Bank.
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