Employment Protection Deregulation And Labor Shares In Advanced Economies
DOWNLOAD
Download Employment Protection Deregulation And Labor Shares In Advanced Economies PDF/ePub or read online books in Mobi eBooks. Click Download or Read Online button to get Employment Protection Deregulation And Labor Shares In Advanced Economies book now. This website allows unlimited access to, at the time of writing, more than 1.5 million titles, including hundreds of thousands of titles in various foreign languages. If the content not found or just blank you must refresh this page
Employment Protection Deregulation And Labor Shares In Advanced Economies
DOWNLOAD
Author : Gabriele Ciminelli
language : en
Publisher: International Monetary Fund
Release Date : 2018-08-16
Employment Protection Deregulation And Labor Shares In Advanced Economies written by Gabriele Ciminelli and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-08-16 with Business & Economics categories.
Labor market deregulation, intended to boost productivity and employment, is one plausible, yet little studied, driver of the decline in labor shares that took place across most advanced economies since the early 1990s. This paper assesses the impact of job protection deregulation in a sample of 26 advanced economies over the period 1970-2015, using a newly constructed dataset of major reforms to employment protection legislation for regular contracts. We apply the local projection method to estimate the dynamic response of the labor share to our reform events at both the country and the country-industry levels. For the latter, we employ a differences-in-differences identification strategy using two identifying assumptions grounded in theory—namely that job protection deregulation should have larger negative effects in industries characterized by (i) a higher “natural” propensity to adjust the workforce, and (ii) a lower elasticity of substitution between capital and labor. We find a statistically significant, economically large and robust negative effect of deregulation on the labor share. In particular, illustrative back-of-the-envelope calculations suggest that job protection deregulation may have contributed about 15 percent to the average labor share decline in advanced economies. Together with existing evidence regarding the macroeconomic gains from job protection and other labor market reforms, our results also point to the need for policymakers to address efficiency-equity trade-offs when designing such reforms.
Job Protection Deregulation In Good And Bad Times
DOWNLOAD
Author : Mr.Romain A Duval
language : en
Publisher: International Monetary Fund
Release Date : 2017-12-14
Job Protection Deregulation In Good And Bad Times written by Mr.Romain A Duval and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-12-14 with Business & Economics categories.
This paper explores the short-term employment effect of deregulating job protection for regular workers and how it varies with prevailing business cycle conditions. We apply a local projection method to a newly constructed “narrative” dataset of major regular job protection reforms covering 26 advanced economies over the past four decades. The analysis relies on country-sector-level data, using as an identifying assumption the fact that stringent dismissal regulations are more binding in sectors that are characterized by a higher “natural” propensity to regularly adjust their workforce. We find that the responses of sectoral employment to large job protection deregulation shocks depend crucially on the state of the economy at the time of reform——they are positive in an expansion, but become negative in a recession. These findings are consistent with theory, and are robust to a broad range of robustness checks including an Instrumental Variable approach using political economy drivers of reforms as instruments. Our results provide a case for undertaking job protection reform in good times, or for designing it in ways that enhance its short-term impact.
Labor And Product Market Reforms And External Imbalances Evidence From Advanced Economies
DOWNLOAD
Author : Mr.Romain A Duval
language : en
Publisher: International Monetary Fund
Release Date : 2021-02-26
Labor And Product Market Reforms And External Imbalances Evidence From Advanced Economies written by Mr.Romain A Duval and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-02-26 with Business & Economics categories.
We explore the impact of major labor and product market reforms on current account dynamics using a new “narrative” database of major changes in employment protection for regular workers and product market regulation for non-manufacturing industries covering 26 advanced economies over the past four decades. Our main finding is that product market deregulation is associated with a weakening of the current account, while labor market deregulation is associated with an improvement. These effects are transitory and driven by both saving and investment responses. Labor and product market reforms both have a more positive impact on the current account balance when implemented under weak macroeconomic conditions. Our results are broadly consistent with predictions from recent DSGE models with endogenous producer entry and labor market frictions.
Designing Labor Market Institutions In Emerging And Developing Economies
DOWNLOAD
Author : Mr.Romain A Duval
language : en
Publisher: International Monetary Fund
Release Date : 2019-05-21
Designing Labor Market Institutions In Emerging And Developing Economies written by Mr.Romain A Duval and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-05-21 with Business & Economics categories.
This paper discusses theoretical aspects and evidences related to designing labor market institutions in emerging market and developing economies. This note reviews the state of theory and evidence on the design of labor market institutions in a developing economy context and then reviews its consistency with actual labor market advice in a selected set of emerging and developing economies. The focus is mainly on three broad sets of institutions that matter for both workers’ protection and labor market efficiency: employment protection, unemployment insurance and social assistance, minimum wages and collective bargaining. Text mining techniques are used to identify IMF recommendations in these areas in Article IV Reports for 30 emerging and frontier economies over 2005–2016. This note has provided a critical review of the literature on the design of labor market institutions in emerging and developing market economies, and benchmarked the advice featured in IMF recommendations for 30 emerging market and frontier economies against the tentative conclusions from the literature.
Inequality And Labor Market Institutions
DOWNLOAD
Author : Ms.Florence Jaumotte
language : en
Publisher: International Monetary Fund
Release Date : 2015-07-01
Inequality And Labor Market Institutions written by Ms.Florence Jaumotte and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-07-01 with Business & Economics categories.
The SDN examines the role of labor market institutions in the rise of income inequality in advanced economies, alongside other determinants. The evidence strongly indicates that de-unionization is associated with rising top earners’ income shares and less redistribution, while eroding minimum wages are related to increases in overall income inequality. The results, however, also suggest that a lack of representativeness of unions may be associated with higher inequality. These findings do not necessarily constitute a blanket recommendation for higher unionization and minimum wages, as country-specific circumstances and potential trade-offs with other policy objectives need to be considered. Addressing inequality also requires a multipronged approach, which should include taxation reform and curbing excesses associated with financial deregulation.
Fighting Unemployment
DOWNLOAD
Author : David R. Howell
language : en
Publisher: Oxford University Press
Release Date : 2005
Fighting Unemployment written by David R. Howell and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with Business & Economics categories.
Critically assessing the widely accepted view that the cause of unemployment is excessive labor market regulation and overly generous welfare state benefits, this book's chapters include both cross-country statistical analyses and country case studies.
Drivers Of Labor Force Participation In Advanced Economies Macro And Micro Evidence
DOWNLOAD
Author : Francesco Grigoli
language : en
Publisher: International Monetary Fund
Release Date : 2018-06-25
Drivers Of Labor Force Participation In Advanced Economies Macro And Micro Evidence written by Francesco Grigoli and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-06-25 with Business & Economics categories.
Despite signicant headwinds from population aging in most advanced economies (AEs), labor force participation rates show remarkably divergent trajectories both across countries and across dierent groups of workers. Participation increased sharply among prime-age women and, more recently, older workers, but fell among the young and prime-age men. This pa- per investigates the determinants of these trends using aggregate and individual-level data. We nd that the bulk of the dramatic increase in the labor force attachment of prime-age women and older workers in the past three decades can be explained by changes in labor mar- ket policies and institutions, structural transformation, and gains in educational attainment. Technological advances such as automation, on the other hand, weighed on the labor supply of prime-age and older workers. In light of the dramatic demographic shifts expected in the coming decades in many AEs, our ndings underscore the need to invest in education and training, reform the tax system, reduce early retirement incentives, improve the job-matching process, and help individuals combine family and work life in order to alleviate the pressures from aging on labor supply.
Wage Led Growth
DOWNLOAD
Author : Engelbert Stockhammer
language : en
Publisher: Springer
Release Date : 2013-12-03
Wage Led Growth written by Engelbert Stockhammer and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-12-03 with Business & Economics categories.
This volume seeks to go beyond the microeconomic view of wages as a cost having negative consequences on a given firm, to consider the positive macroeconomic dynamics associated with wages as a major component of aggregate demand.
World Of Work Report 2014
DOWNLOAD
Author : International Labor International Labor Office
language : en
Publisher:
Release Date : 2014-06-16
World Of Work Report 2014 written by International Labor International Labor Office and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-06-16 with Business & Economics categories.
"The World of Work Report 2014" assembles new evidence based on a detailed examination of trends and policy innovations in over 140 developing countries. It finds that strategies that focus on promoting decent work opportunities tend to yield sustained development results. The report also provides an evidencebased contribution to the debate on the post2015 development agenda."
The Shadow Economy
DOWNLOAD
Author : Friedrich Schneider
language : en
Publisher: Cambridge University Press
Release Date : 2013-02-14
The Shadow Economy written by Friedrich Schneider and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-02-14 with Business & Economics categories.
This book presents new data to give an overview of shadow economies from OECD countries and propose solutions to prevent illicit work.