Public Employment and Compensation Reform During Times of Fiscal Consolidation
IMF Working Papers, October 23, 2014
Source details
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- Public Employment and Compensation Reform During Times of Fiscal Consolidation
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Bibliographic details
- Authors: Lorenzo Forni, Natalija Novta
- Published: October 23, 2014
- Series: IMF Working Papers
- DOI: https://doi.org/10.5089/9781498350341.001
Overview
- Authors: Lorenzo Forni, Natalija Novta
- Publication date: October 23, 2014
- Type: IMF Working Papers, Working Paper No. 2014/192
- Purpose: Compile and compare recent and past measures introduced to contain the public wage bill in a number of emerging and advanced economies to assess their effectiveness in bringing down expenditure in a sustained way.
- Context: In the aftermath of the Great Recession a number of countries approved measures on the wage bill as part of fiscal consolidation efforts; recent episodes are compared to past cases implemented in advanced economies over the period 1979–2009.
Main findings
- Public wage bill consolidation episodes pre and post 2009 are similar in many respects.
- Countries that achieved more sustained reductions in the wage bill typically:
- Implemented structural measures to a larger extent, and/or
- Accompanied measures with substantial social dialogue and consensus.
Key subjects and keywords
- Subject: Expenditure, Government wage bill, Labor, Labor share, Public employment, Wage adjustments, Wages
- Keywords: bill, bill consolidation, bill measure, bill reduction, consolidation episode, employment, Europe, fiscal consolidation, Global, Government wage bill, indexation rule, Labor share, Public employment, public reform, Public sector, wage, Wage adjustments, wage bill, Wages, WP