Please use this identifier to cite or link to this item: http://hdl.handle.net/2440/98232
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dc.contributor.authorBurda, M.en
dc.contributor.authorWeder, M.en
dc.date.issued2016en
dc.identifier.citationJournal of the European Economic Association, 2016; 14(2):438-467en
dc.identifier.issn1542-4766en
dc.identifier.issn1542-4774en
dc.identifier.urihttp://hdl.handle.net/2440/98232-
dc.descriptionArticle first published online: 21 JUL 2015en
dc.description.abstractPayroll taxes represent a major distortionary influence of governments on labor markets. This paper examines the role of time-varying payroll taxes and the social safety net for cyclical fluctuations in a nonmonetary economy with labor market frictions and unemployment insurance, when the latter is only imperfectly related to search effort. A balanced social insurance budget induces countercyclical payroll taxation, renders gross wages more rigid over the cycle and strengthens the model's endogenous propagation mechanism. For conventional calibrations, the model generates a negatively sloped Beveridge curve and countercyclical unemployment as well as substantial volatility and persistence of vacancies and unemployment.en
dc.description.statementofresponsibilityMichael C. Burda and Mark Wederen
dc.language.isoenen
dc.publisherWileyen
dc.rights© 2015 by the European Economic Associationen
dc.subjectBusiness cycles; consumption-tightness puzzle; labor markets; payroll taxes; unemploymenten
dc.titlePayroll taxes, social insurance and business cyclesen
dc.typeJournal articleen
dc.identifier.rmid0030033113en
dc.identifier.doi10.1111/jeea.12145en
dc.relation.granthttp://purl.org/au-research/grants/arc/DP1096358en
dc.identifier.pubid178583-
pubs.library.collectionEconomics publicationsen
pubs.library.teamDS08en
pubs.verification-statusVerifieden
pubs.publication-statusPublisheden
Appears in Collections:Economics publications

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