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Optimal Fiscal Policy with Rationing in the Labor Market

dc.contributor.authorGorostiaga Alonso, Miren Arantzazu ORCID
dc.date.accessioned2012-02-08T12:38:51Z
dc.date.available2012-02-08T12:38:51Z
dc.date.issued2002-07
dc.identifier.issn1988-088X
dc.identifier.urihttp://hdl.handle.net/10810/6794
dc.descriptionPublished as an article in: Topics in Macroeconomics, 2005, vol. 5, issue 1, article 17.es
dc.description.abstractThis paper characterizes the optimal fiscal policy when it is assumed that there exists a minimum wage below which no worker can be hired. The rigidity due to the minimum wage legislation can lead to equilibria in which the supply side of the labor market is rationed. One of the main results of the paper is that allocations in which the worker is involuntarily unemployed can be found to be optimal. The main conclusion with respect to the stabilizing properties of the optimal policy is that it should not be used to offset the negative effects of the cycle in the economy.es
dc.language.isoenges
dc.publisherUniversity of the Basque Country, Department of Foundations of Economic Analysis IIes
dc.relation.ispartofseriesDFAEII 2002.29
dc.rightsinfo:eu-repo/semantics/openAccesses
dc.rights.urihttp://creativecommons.org/licenses/by-nc-sa/3.0/*
dc.subjectRamsey problemes
dc.subjectdisequilibrium theoryes
dc.subjectminimum wagees
dc.subjectinvoluntary unemploymentes
dc.titleOptimal Fiscal Policy with Rationing in the Labor Marketes
dc.typeinfo:eu-repo/semantics/workingPaperes
dc.rights.holderAttribution-NonCommercial-ShareAlike 3.0 Unported*
dc.subject.jelC6
dc.subject.jelE62
dc.subject.jelH21
dc.identifier.repecRePEc:ehu:dfaeii:200229es
dc.departamentoesFundamentos del análisis económico IIes_ES
dc.departamentoeuEkonomia analisiaren oinarriak IIes_ES
dc.subject.categoriaECONOMICS, ECONOMETRICS AND FINANCE
dc.subject.categoriaMACROECONOMICS AND MONETARY ECONOMICS
dc.subject.categoriaPUBLIC ECONOMICS
dc.subject.categoriaMATHEMATICAL AND QUANTITATIVE METHODS


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Attribution-NonCommercial-ShareAlike 3.0 Unported
Except where otherwise noted, this item's license is described as Attribution-NonCommercial-ShareAlike 3.0 Unported