2023-09-28 14:46:10 +00:00
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abstract: 'Raising employment, in particular employment among older individuals and
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low educated individuals, stands high on the agenda of policy makers in
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many OECD countries. Increased sensitivity in recent years to rising
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inequality has made the challenge only larger. In this paper we evaluate
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alternative fiscal policy scenarios to face this challenge. We construct
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and use an overlapping generations model for an open economy where
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individuals differ not only by age, but also by innate ability and human
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capital. The model allows us to study effects on aggregate employment,
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per capita income and welfare, as well as effects for specific age and
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ability groups. We show that well-considered fiscal policy changes can
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significantly improve macroeconomic productive efficiency, without
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increasing intergenerational or intragenerational welfare inequality.
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Our results strongly prefer a reduction in the labor tax rate on older
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workers and on all low-wage earners, financed by an overall reduction in
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non-employment benefits. An alternative financing option is to raise the
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consumption tax rate. These results are to be seen as long-run effects
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for economies at potential output. (C) 2019 The Society for Policy
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Modeling. Published by Elsevier Inc. All rights reserved.'
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affiliation: 'Heylen, F (Corresponding Author), Univ Ghent, Dept Econ, Sint Pieterspl
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6, B-9000 Ghent, Belgium.
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Heylen, Freddy; Van de Kerckhove, Renaat, Univ Ghent, Dept Econ, Sint Pieterspl
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6, B-9000 Ghent, Belgium.'
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author: Heylen, Freddy and Van de Kerckhove, Renaat
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author-email: 'Freddy.Heylen@UGent.be
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Renaat.VandeKerckhove@UGent.be'
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author_list:
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- family: Heylen
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given: Freddy
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- family: Van de Kerckhove
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given: Renaat
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da: '2023-09-28'
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doi: 10.1016/j.jpolmod.2019.02.001
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eissn: 1873-8060
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files: []
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issn: 0161-8938
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journal: JOURNAL OF POLICY MODELING
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keywords: 'Employment by age; Fiscal policy; Heterogeneous ability; Welfare
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inequality; Overlapping generations (OLG)'
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keywords-plus: 'CROSS-COUNTRY DIFFERENCES; PENSION REFORM; LABOR; UNEMPLOYMENT;
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TAXATION; GROWTH; TAXES; MODEL'
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language: English
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month: JUL-AUG
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number: '4'
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number-of-cited-references: '26'
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pages: 586-606
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papis_id: db18f58590bbc0be83c66c5cf3cba574
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ref: Heylen2019gettinglow
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times-cited: '3'
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title: 'Getting low educated and older people into work: The role of fiscal policy'
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2023-10-01 08:15:07 +00:00
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type: article
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2023-09-28 14:46:10 +00:00
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unique-id: WOS:000474682700003
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usage-count-last-180-days: '2'
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usage-count-since-2013: '13'
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volume: '41'
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web-of-science-categories: Economics
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year: '2019'
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