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Working Paper 14-03 - Een macro-economische evaluatie van de werkgeversbijdrage-verminderingen in 1995-2000


  • Christophe Joyeux
  • Peter Stockman


This paper assesses to which extent the policy of reducing employers' social security contributions has increased market sector employment in 1995-2000. The analytical framework is a macroeconometric labour market model of the market sector that models added value, the employment of labour and capital, the setting of wages and prices, the matching of supply and demand on the labour market, and the dynamics that tie short-run behaviour to the steady state. The real wage cost depends on the wage gap, labour productivity, the replacement rate of unemployment benefits to the take home wage, and tensions on the labour market. The model comes in two versions. The ‘right-to-manage' version links the wage cost to the unemployment rate; the ‘job-search' version ties the wage cost to the unemployment-vacancy-ratio.

Suggested Citation

  • Christophe Joyeux & Peter Stockman, 2003. "Working Paper 14-03 - Een macro-economische evaluatie van de werkgeversbijdrage-verminderingen in 1995-2000," Working Papers 0314, Federal Planning Bureau, Belgium.
  • Handle: RePEc:fpb:wpaper:0314

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    JEL classification:

    • J68 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Public Policy
    • J38 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Public Policy
    • J58 - Labor and Demographic Economics - - Labor-Management Relations, Trade Unions, and Collective Bargaining - - - Public Policy


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