From: A fiscal job? An analysis of fiscal policy and the labor market
Time-varying Okun’s coefficient (employment) | ||||||
---|---|---|---|---|---|---|
(1) | (2) | (3) | (4) | (5) | (6) | |
Central Bank policy rate (−1) | −0.244* | −0.240* | −0.250** | −0.246** | −0.247** | −0.243* |
(0.120) | (0.122) | (0.119) | (0.120) | (0.120) | (0.121) | |
Employment protection legislation | −0.0967** | −0.0972** | −0.100** | −0.0986** | −0.0983** | −0.0985** |
(0.0379) | (0.0380) | (0.0385) | (0.0386) | (0.0387) | (0.0387) | |
Dummy output expansion | 0.00828 | 0.00998 | 0.00990 | |||
(0.00845) | (0.00694) | (0.00705) | ||||
Expenditure-based consolidation GP | 0.0507** | 0.0531** | ||||
(0.0223) | (0.0248) | |||||
Revenue-based consolidation GP | 0.0143 | −0.0120 | ||||
(0.0533) | (0.0715) | |||||
Expenditure-based consolidation GP*Output expansion | −0.00341 | |||||
(0.0281) | ||||||
Revenue-based consolidation GP*Output expansion | 0.0398 | |||||
(0.0548) | ||||||
Expenditure-based consolidation AA | 0.0395* | 0.0534** | ||||
(0.0205) | (0.0239) | |||||
Revenue-based consolidation AA | 0.0420 | 0.0234 | ||||
(0.0266) | (0.0335) | |||||
Expenditure-based consolidation AA*Output expansion | −0.0353 | |||||
(0.0335) | ||||||
Revenue-based consolidation AA*Output expansion | 0.0386 | |||||
(0.0328) | ||||||
Observations | 747 | 747 | 747 | 747 | 747 | 747 |
R-squared | 0.752 | 0.752 | 0.751 | 0.752 | 0.752 | 0.752 |
Country | 33 | 33 | 33 | 33 | 33 | 33 |