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Campo DC | Valor | Lengua/Idioma |
---|---|---|
dc.contributor.author | Cardi, Olivier | es-ES |
dc.contributor.author | Restout, Romain | es-ES |
dc.contributor.author | Claeys, Peter Guenther Antoon | es-ES |
dc.date.accessioned | 2022-07-06T06:13:43Z | - |
dc.date.available | 2022-07-06T06:13:43Z | - |
dc.date.issued | 2020-07-01 | es_ES |
dc.identifier.issn | 0165-1889 | es_ES |
dc.identifier.uri | https://doi.org/10.1016/j.jedc.2019.103815 | es_ES |
dc.description | Artículos en revistas | es_ES |
dc.description.abstract | . | es-ES |
dc.description.abstract | Our paper investigates the sectoral effects of government spending shocks and highlights the role of labor mobility. Our VAR evidence for sixteen OECD countries reveals that a shock to government consumption by 1% of GDP increases non-traded value added by 0.7% of GDP and generates a decline in traded value added. The value added share of non-tradables rises by 0.35% of GDP, thus implying that the reallocation of resources accounts for 50% of the sectoral fiscal multiplier. Consistently, our estimates show that the non-traded sector is highly intensive in the government spending shock and experiences a labor inflow. The shift of hours worked toward the non-traded sector is, however, subject to mobility costs which vary across countries. When we explore quantitatively the sectoral effects of a shock to government consumption that is highly intensive in non-traded goods, we find that the model can replicate the magnitude of the rise in the share of non-tradables we document empirically once we allow for both labor mobility and capital installation costs. Financial openness also matters as it further biases the demand shock toward non-tradables. To account for the cross-country dispersion in the responses of sectoral shares we estimate empirically, we have to let the degree of labor mobility vary across countries. | en-GB |
dc.format.mimetype | application/pdf | es_ES |
dc.language.iso | en-GB | es_ES |
dc.rights | Creative Commons Reconocimiento-NoComercial-SinObraDerivada España | es_ES |
dc.rights.uri | http://creativecommons.org/licenses/by-nc-nd/3.0/es/ | es_ES |
dc.source | Revista: Journal of Economic Dynamics and Control, Periodo: 1, Volumen: 111, Número: , Página inicial: 1038, Página final: 1115 | es_ES |
dc.title | Imperfect mobility of labor across sectors and fiscal transmission | es_ES |
dc.type | info:eu-repo/semantics/article | es_ES |
dc.description.version | info:eu-repo/semantics/publishedVersion | es_ES |
dc.rights.holder | es_ES | |
dc.rights.accessRights | info:eu-repo/semantics/openAccess | es_ES |
dc.keywords | politica fiscal | es-ES |
dc.keywords | fiscal policy | en-GB |
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2024330122252313_24_Manuscript_Claeys (2).pdf | 2,27 MB | Adobe PDF | Visualizar/Abrir |
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