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Growth and business cycles have a long tradition of being studied separately. However, events such as the Great Recession raise concerns that severe downturns may have detrimental implications for growth. If so, what policies may help alleviate such long-lasting effects of large recessions? To...
Persistent link: https://www.econbiz.de/10012594034
Building on the automatic fiscal stabilisers literature, this paper assesses how automatic stabilisers have evolved over the past two decades by analysing changes in the personal income tax and social benefit systems. In three-quarters of the 35 OECD countries analysed, indicators of the...
Persistent link: https://www.econbiz.de/10012421097
Using loan-level data covering almost all loans to households and businesses from banks in Italy over the past 20 years, we offer new empirical evidence that credit declines during a recession primarily because of the reduction in the net creation of borrowers. We then build on a flow approach...
Persistent link: https://www.econbiz.de/10012622824
response of employment and wages in ES, a high sensitivity of IT to investment-related shocks, and a comparatively strong …
Persistent link: https://www.econbiz.de/10012054993
employment and wages in the United Kingdom. It finds that firms can benefit from services trade, through increased employment …, production and productivity. On average, workers’ wages are also positively impacted by increased services trade. The findings … suggest that services imports enhance female wages more than those of males, thereby contributing to narrow the gender wage …
Persistent link: https://www.econbiz.de/10012432842
workers are affected the most, how employment and wages adjust to increased services trade, and the impact of policy settings … quantitatively small. Looking at the distributional impact, there is mixed evidence for a skill bias in wages related to increased … exert downward pressure on the wages of women compared to the ones of men. …
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