Fiscal adjustments,labour market flexibility and unemployment |
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| Authors: | Luca Agnello,Vitor Castro,Joã o Tovar Jalles,Ricardo M. Sousa |
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| Affiliation: | 1. University of Palermo, Department of Economics, Business and Statistics (SEAS), Viale delle Scienze, 90128 Palermo, Italy;2. University of Coimbra, Faculty of Economics, Av. Dias da Silva, 165, 3004-512 - Coimbra, Portugal;3. University of Minho, Economic Policies Research Unit (NIPE), Campus of Gualtar, 4710-057 - Braga, Portugal;4. OECD, Economics Department, 2 rue Andre Pascal, 75775 CEDEX 16, Paris, France;5. University of Minho, Department of Economics and Economic Policies Research Unit (NIPE), Campus of Gualtar, 4710-057 - Braga, Portugal;6. London School of Economics, LSE Alumni Association, Houghton Street, London WC2 2AE, United Kingdom |
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| Abstract: | Using a panel of 17 countries for 1978–2009, we find that tax-driven consolidations increase unemployment by 0.25 percentage points. Labour market flexibility mitigates this: a one-point rise in the flexibility index reduces youth (long-term) unemployment by 0.6–0.7 (1.8–2.2) percentage points. |
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| Keywords: | H62 H63 H12 E24 |
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