Labor mobility and fiscal policy in a currency union:
Labor mobility is commonly taken as a property of an optimal currency area. But how does that property affect the outcome of fiscal policies? In our model, we show that perfect (costless) labour mobility is not necessarily welfare improving, since it prevents the national fiscal authorities from pur...
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| Main Authors: | , , |
|---|---|
| Format: | Electronic eBook |
| Language: | English |
| Published: |
München
CESifo
2015
|
| Series: | CESifo working paper
5159 : Category 1, Public finance |
| Online Access: | Volltext |
| Summary: | Labor mobility is commonly taken as a property of an optimal currency area. But how does that property affect the outcome of fiscal policies? In our model, we show that perfect (costless) labour mobility is not necessarily welfare improving, since it prevents the national fiscal authorities from pursuing independent policies, opening the way to a coordination prob-lem. With symmetric shocks, the federal fiscal policy can improve welfare by playing a coordinating role. With asymmetric shocks, the federal policy allows both countries to reach a higher productive efficiency, provided the federal government is endowed with a federal budget. |
| Physical Description: | 1 Online-Ressource (38 S.) graph. Darst. |
| Format: | . - Acrobat Reader |
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| spelling | Baglioni, Angelo Verfasser (DE-588)170193667 aut Labor mobility and fiscal policy in a currency union Angelo Baglioni ; Andrea Boitani ; Massimo Bordignon München CESifo 2015 1 Online-Ressource (38 S.) graph. Darst. txt rdacontent c rdamedia cr rdacarrier CESifo working paper 5159 : Category 1, Public finance Labor mobility is commonly taken as a property of an optimal currency area. But how does that property affect the outcome of fiscal policies? In our model, we show that perfect (costless) labour mobility is not necessarily welfare improving, since it prevents the national fiscal authorities from pursuing independent policies, opening the way to a coordination prob-lem. With symmetric shocks, the federal fiscal policy can improve welfare by playing a coordinating role. With asymmetric shocks, the federal policy allows both countries to reach a higher productive efficiency, provided the federal government is endowed with a federal budget. . - Acrobat Reader Boitani, Andrea Verfasser (DE-588)170449645 aut Bordignon, Massimo 1957- Verfasser (DE-588)121555410 aut CESifo working paper 5159 : Category 1, Public finance (DE-604)BV014083264 5159 https://www.cesifo.org/DocDL/cesifo1_wp5159.pdf Verlag kostenfrei Volltext |
| spellingShingle | Baglioni, Angelo Boitani, Andrea Bordignon, Massimo 1957- Labor mobility and fiscal policy in a currency union CESifo working paper |
| title | Labor mobility and fiscal policy in a currency union |
| title_auth | Labor mobility and fiscal policy in a currency union |
| title_exact_search | Labor mobility and fiscal policy in a currency union |
| title_full | Labor mobility and fiscal policy in a currency union Angelo Baglioni ; Andrea Boitani ; Massimo Bordignon |
| title_fullStr | Labor mobility and fiscal policy in a currency union Angelo Baglioni ; Andrea Boitani ; Massimo Bordignon |
| title_full_unstemmed | Labor mobility and fiscal policy in a currency union Angelo Baglioni ; Andrea Boitani ; Massimo Bordignon |
| title_short | Labor mobility and fiscal policy in a currency union |
| title_sort | labor mobility and fiscal policy in a currency union |
| url | https://www.cesifo.org/DocDL/cesifo1_wp5159.pdf |
| volume_link | (DE-604)BV014083264 |
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