LEADER 06210oam 22013214 450 001 9910812626303321 005 20240402050155.0 010 $a1-4623-4672-3 010 $a1-4527-5009-2 010 $a9786612840678 010 $a1-282-84067-3 010 $a1-4518-6973-8 035 $a(CKB)3170000000055016 035 $a(EBL)1607855 035 $a(SSID)ssj0000944153 035 $a(PQKBManifestationID)11597309 035 $a(PQKBTitleCode)TC0000944153 035 $a(PQKBWorkID)10982385 035 $a(PQKB)11544877 035 $a(OCoLC)815736068 035 $a(MiAaPQ)EBC1607855 035 $a(IMF)WPIEE2008113 035 $a(EXLCZ)993170000000055016 100 $a20020129d2008 uf 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 10$aInternational Spillover of Labor Market Reforms /$fMai Dao 205 $a1st ed. 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2008. 215 $a1 online resource (37 p.) 225 1 $aIMF Working Papers 225 0$aIMF working paper ;$vWP/08/113 300 $aDescription based upon print version of record. 311 $a1-4519-1427-X 320 $aIncludes bibliographical references. 327 $aContents; I. Introduction; II. Model; A. Overview of Main Building Blocks; B. Final Goods Firms (F-firms); C. Intermediate Goods Firms (I-firms); D. Households; E. Government; F. Unions and Wage Bargaining; G. Definition of Equilibrium; III. Solution method and calibration; IV. Policy simulation; A. Lower average tax rate; Tables; 1. Calibration of the Benchmark Model; B. What is the Role of Labor Unions?; C. How Does Openness Affect Reform Outcome?; D. Other Labor Market Reforms; 2: Long Term Effects of Policy Reforms, Percentage Deviation from Pre-reform 327 $aE. Relaxing the Perfect Financial Market AssumptionV. Nominal rigidities and monetary policy; VI. Conclusion; Figures; 1. Dynamic Responses of Domestic and Foreign Variables Following a Cut in Average Tax by 3 %, time in quarters; 2a. Comparison of Response to 3 % Tax Cut Under Unionized and Competitive Labor Market - output and absorption; 2b. Comparison of Response to 3 % Tax Cut Under Unionized and Competitive Labor Market - employment, wages and international trade 327 $a3. Response of Domestic and Foreign Variables to an Average Tax Cut of 3% in Country 1, Under Benchmark and Completely Closed Economies4. Responses of Domestic and Foreign Variables to an Average Tax Cut of 3% in Country 1, Under Benchmark and Incomplete Financial Markets; 5. Responses of Domestic and Foreign Variables to an Average Tax Cut of 3% in Country 1, Under Benchmark and Sticky Prices cum Monetary Union; References; Appendix 330 3 $aThis paper uses a dynamic economy model, with unionized labor markets, to analyze the effects of labor market reforms, similar to those recently introduced in Germany, on the domestic and trading partner economies. The model is calibrated on Germany and the rest of the Euro area. The results indicate that German labor market reforms have positive spillover effects on the rest of the Euro area, which operate through the channel of trade, relative price adjustment, and financial market integration. Compared to a competitive labor market, setting, unionization dampens the positive response of the domestic economy and magnifies the spillover effects. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2008/113 606 $aLabor market$xEconometric models 606 $aLabor market$zGermany$xEconometric models 606 $aLabor unions$xEconometric models 606 $aLabor unions$zGermany$xEconometric models 606 $aInternational trade$xEconometric models 606 $aExports and Imports$2imf 606 $aLabor$2imf 606 $aMacroeconomics$2imf 606 $aDemand and Supply of Labor: General$2imf 606 $aWages, Compensation, and Labor Costs: General$2imf 606 $aEmployment$2imf 606 $aUnemployment$2imf 606 $aWages$2imf 606 $aIntergenerational Income Distribution$2imf 606 $aAggregate Human Capital$2imf 606 $aAggregate Labor Productivity$2imf 606 $aMacroeconomics: Consumption$2imf 606 $aSaving$2imf 606 $aWealth$2imf 606 $aEmpirical Studies of Trade$2imf 606 $aLabour$2imf 606 $aincome economics$2imf 606 $aInternational economics$2imf 606 $aLabor markets$2imf 606 $aConsumption$2imf 606 $aTerms of trade$2imf 606 $aLabor market$2imf 606 $aEconomic theory$2imf 606 $aEconomics$2imf 606 $aEconomic policy$2imf 606 $anternational cooperation$2imf 607 $aGermany$2imf 615 0$aLabor market$xEconometric models. 615 0$aLabor market$xEconometric models. 615 0$aLabor unions$xEconometric models. 615 0$aLabor unions$xEconometric models. 615 0$aInternational trade$xEconometric models. 615 7$aExports and Imports 615 7$aLabor 615 7$aMacroeconomics 615 7$aDemand and Supply of Labor: General 615 7$aWages, Compensation, and Labor Costs: General 615 7$aEmployment 615 7$aUnemployment 615 7$aWages 615 7$aIntergenerational Income Distribution 615 7$aAggregate Human Capital 615 7$aAggregate Labor Productivity 615 7$aMacroeconomics: Consumption 615 7$aSaving 615 7$aWealth 615 7$aEmpirical Studies of Trade 615 7$aLabour 615 7$aincome economics 615 7$aInternational economics 615 7$aLabor markets 615 7$aConsumption 615 7$aTerms of trade 615 7$aLabor market 615 7$aEconomic theory 615 7$aEconomics 615 7$aEconomic policy 615 7$anternational cooperation 676 $a331.12 700 $aDao$b Mai$01675941 801 0$bDcWaIMF 906 $aBOOK 912 $a9910812626303321 996 $aInternational Spillover of Labor Market Reforms$94122524 997 $aUNINA