<?xml version="1.0" encoding="UTF-8"?><xml><records><record><source-app name="Biblio" version="6.x">Drupal-Biblio</source-app><ref-type>17</ref-type><contributors><authors><author><style face="normal" font="default" size="100%">Campolmi, Alessia</style></author><author><style face="normal" font="default" size="100%">Faia, Ester</style></author><author><style face="normal" font="default" size="100%">Winkler, Roland</style></author></authors></contributors><titles><title><style face="normal" font="default" size="100%">Fiscal Calculus and the Labor Market</style></title><secondary-title><style face="normal" font="default" size="100%">The B.E. Journal of Macroeconomics</style></secondary-title></titles><dates><year><style  face="normal" font="default" size="100%">2011</style></year></dates><urls><web-urls><url><style face="normal" font="default" size="100%">http://tinyurl.com/7fjwo8j</style></url></web-urls></urls><volume><style face="normal" font="default" size="100%">11</style></volume><pages><style face="normal" font="default" size="100%">1–25</style></pages><abstract><style face="normal" font="default" size="100%">The endorsement of expansionary fiscal packages has often been based on the idea that large multipliers can counteract rising and persistent unemployment. We explore the effectiveness of fiscal stimuli in a model with matching frictions and endogenous participation. Results show that hiring subsidies, contrary to increase in government spending, deliver large multipliers, even with distortionary taxation. Those policies increase the incentives to post vacancies, hence employment. Furthermore, by reducing marginal costs they also reduce inflation and increase private consumption.</style></abstract><issue><style face="normal" font="default" size="100%">1</style></issue></record></records></xml>
