文章基本信息

标题：Labour Market Adjustment Social Spending and the Automatic Stabilizers in the OECD
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作者：JULIA DARBY ; JACQUES MÉLITZ
期刊名称：Discussion Papers / Business School, University of Strathclyde
出版年度：2007
卷号：2007
出版社：University of Strathclyde
摘要：The macroeconomic literature on automatic stabilization tends to focus on taxes and dismiss the relevance of government expenditure, aside from unemployment compensation. Our re-sults go sharply contrary to this view. We engage in an empirical analysis of 20 OECD coun-tries from 1980-2001 and find that age- and health-related social expenditure as well as inca-pacity benefits all react to the cycle in a stabilizing manner. While possibly new in the macro literature, this conforms to many results in studies of labor and health. Moreover, when the focus is on the ratio of the net surplus to output, automatic stabilization comes essentially from the spending side. Taxes contribute nothing at all.
关键词：automatic stabilization, discretionary fiscal policy, cyclically adjusted budget bal-ances.