Does Fiscal Devaluation Work for Everyone? Diversified Impact of Fiscal Devaluation on Employment Rates

Piotr Cizkowicz, Andrzej Rzońca and Wiktor Wojciechowski

Gospodarka Narodowa. The Polish Journal of Economics, 2025, issue 4, 1-14

Abstract: The study analyses the effects of fiscal devaluation on employment rates and finds that the significance and magnitude of this impact vary considerably by gender and age. The effect is substantially stronger for men than for women. For men, it is statistically significant across all age groups, with the strongest impact observed among the youngest cohort. For women, it is significant only in the 25–54 age group. Labour and product market regulations also influence the strength and variation of this effect, indicating that institutional quality significantly shapes the outcomes of fiscal reforms. The findings support combining fiscal devaluation with structural reforms aimed at enhancing labour market.

Keywords: employment; fiscal policy; labour market institutions; fiscal devaluations; panel data models (search for similar items in EconPapers)
JEL-codes: C50 E62 J01 J08 (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:sgh:gosnar:y:2025:i:4:p:1-14

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