Fiscal Consolidation During Times of High Unemployment: The Role of Productivity Gains and Wage Restraint
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Keywords
WP; business cycle; trade balance; Fiscal Consolidation; Search Models of Unemployment; Small Open Economy; productivity gain; government consumption shock; government transfer; government budget constraint; lumpsum transfer; result wage inflation; business cycle accounting exercise; business cycle accounting decomposition; wage inflation; government lumpsum transfer; accounting exercise; labor productivity gain; Unemployment rate; Productivity; Total factor productivity; Fiscal stance; Global;All these keywords.
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