Employment in the US and Europe: The Roles of Taxes and Benefits

Toshihiko Mukoyama, Richard Rogerson, Aysegul Sahin and Per Krusell

No 71, 2009 Meeting Papers from Society for Economic Dynamics

Abstract: We build a model that incorporates both labor supply and frictions and use it to assess the effects of various tax and transfer programs on aggregate employment and unemployment. In particular, we assess the debate between Prescott and Ljungqvist and Sargent about the relative importance of taxes versus benefits in understanding the large differences in hours of work between Europe and the US.

Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:red:sed009:71

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