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On the Efficiency of Job and Income Protection in the Dynamic Labour Markets
(Valtion taloudellinen tutkimuskeskus VATT, 2000-05-31)
This paper investigates the efficiency implications of two kinds of worker protection, job security and income protection. Both of them have important aggregate efficiency effects in the dynamic labor markets, where worker ...
Impact of Business Subsidies on Growth of Firms - Preliminary Evidence from Finnish Panel Data
(Valtion taloudellinen tutkimuskeskus VATT, 2000-06-14)
This study examines the impact of business subsidies on beneficiary and non-beneficiary firms during a short three year period, from 1995 to 1997. The indicator measuring the impact of subsidies on these firms is their ...
Yet Another Fiscal Indicator
(Valtion taloudellinen tutkimuskeskus VATT, 2000-01-19)
The paper presents a fiscal indicator that uses the fiscal situation of the previous year as a benchmark. Different revenue and expenditure items have their own of rules by which the cyclical and discretionary changes are ...
Do automatic stabilisers take care of asymmetric shocks in the euro area?
(Valtion taloudellinen tutkimuskeskus VATT, 2000-12-01)
This paper deals with the question whether the automatic fiscal stabilisers are strong enough to solve the problem of asymmetric shocks in the Euro area. The question is important for many reasons, for instance in terms ...
How Sensitive is the Public Budget Balance to Cyclical Fluctuations in the EU?
(Valtion taloudellinen tutkimuskeskus VATT, 2000-10-09)
This paper discusses the fiscal behaviour of EU countries in 1972-1999. It attempts to find out how deficits adjust to changes in interest rates and output growth by examining the hypothesis that the reaction of deficits ...
Modelling Crime and Punishment
(Valtion taloudellinen tutkimuskeskus VATT, 2000-12-31)
This paper provides an extended supply of labour model which allows for different intensities of legal and illegal (criminal) activities and in which criminal activities may be considered both as work and leisure. Heterogeneity ...
Taxes, Growth and Unemployment in the OECD Countries - Does Collective Bargaininig Matter?
(Valtion taloudellinen tutkimuskeskus VATT, 2000-12-19)
This paper analyses how collective bargaining affects the level and structure of labour and capital taxes in OECD countries by using cross-country-time-series data. Corporatist countries are found to have higher effective ...
Cross-country Evidence on a Nonlinear Okun Curve
(Valtion taloudellinen tutkimuskeskus VATT, 2000-12-31)
This paper presents cross-country evidence on a nonlinear Okun curve. The analysis is based on a simple error-correction model of unemployment. The model is estimated using a threshold model estimator. Evidence from 20 ...