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Does Fiscal Devaluation Work for Everyone? Diversified Impact of Fiscal Devaluation on Employment Rates

Author

Listed:
  • Piotr Cizkowicz
  • Andrzej Rzońca
  • Wiktor Wojciechowski

Abstract

The study analyses the effects of fiscal devaluation on employment rates and finds that the significance and magnitude of this impact vary considerably by gender and age. The effect is substantially stronger for men than for women. For men, it is statistically significant across all age groups, with the strongest impact observed among the youngest cohort. For women, it is significant only in the 25–54 age group. Labour and product market regulations also influence the strength and variation of this effect, indicating that institutional quality significantly shapes the outcomes of fiscal reforms. The findings support combining fiscal devaluation with structural reforms aimed at enhancing labour market.

Suggested Citation

  • Piotr Cizkowicz & Andrzej Rzońca & Wiktor Wojciechowski, 2025. "Does Fiscal Devaluation Work for Everyone? Diversified Impact of Fiscal Devaluation on Employment Rates," Gospodarka Narodowa. The Polish Journal of Economics, Warsaw School of Economics, issue 4, pages 1-14.
    • Handle: RePEc:sgh:gosnar:y:2025:i:4:p:1-14
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    Keywords

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    JEL classification:

    • C50 - Mathematical and Quantitative Methods - - Econometric Modeling - - - General
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • J01 - Labor and Demographic Economics - - General - - - Labor Economics: General
    • J08 - Labor and Demographic Economics - - General - - - Labor Economics Policies

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