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Fiscal Policy And The Labour Market During Crisis

Author

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  • Veniamin Todorov

Abstract

The study investigates the fiscal policy response to the economic crisis, caused by the COVID-19 pandemic, and in particular, the fiscal stimuli connected with the labour market. Although fiscal packages in different countries are discussed, the main focus is on the fiscal policy in Bulgaria. The paper constructs an overall framework for understanding the functional relationships between the different fiscal measures and the labour market indicators, especially unemployment. It includes the fiscal mechanisms for labour market impact planned in advance the previous year, as well as the ad hoc measures implemented till August 2020. The latter are categorized as: 1) fiscal measures aimed at labour demand, 2) fiscal measures aimed at labour supply, and 3) fiscal measures improving the institutional operation of the labour market.

Suggested Citation

  • Veniamin Todorov, 2020. "Fiscal Policy And The Labour Market During Crisis," INTERNATIONAL SCIENTIFIC AND PRACTICAL CONFERENCE "HUMAN RESOURCE MANAGEMENT", University of Economics - Varna, issue 1, pages 180-189.
    • Handle: RePEc:vrn:hrmsnr:y:2020:i:1:p:180-189
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    More about this item

    Keywords

    fiscal policy; labour market; unemployment;
    All these keywords.

    JEL classification:

    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • E64 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Incomes Policy; Price Policy
    • J23 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Demand

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