Macroeconomic Impact Of Product And Labor Market Reforms On Informality And Unemployment In India
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Macroeconomic Impact Of Product And Labor Market Reforms On Informality And Unemployment In India
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Author : Rahul Anand
language : en
Publisher: International Monetary Fund
Release Date : 2016-03-02
Macroeconomic Impact Of Product And Labor Market Reforms On Informality And Unemployment In India written by Rahul Anand 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 2016-03-02 with Business & Economics categories.
This paper investigates the implications of lowering formal regulations in labor and product markets on informality and macroeconomic outcomes in India. We estimate a DSGE model with an informal sector, and rigidities in the formal labor and product markets. Along with increasing GDP and employment, deregulation also leads to lower informality and greater product market competition. Slow reallocation of resources between the formal and informal sectors leads to some adverse impacts in the short run that can be minimized by implementing a combined package of reforms. These impacts are shown to be greater in an economy with a larger informal sector.
Macroeconomic Impacts Of Gender Inequality And Informality In India
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Author : Purva Khera
language : en
Publisher: International Monetary Fund
Release Date : 2016-02-09
Macroeconomic Impacts Of Gender Inequality And Informality In India written by Purva Khera 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 2016-02-09 with Social Science categories.
This paper examines the macroeconomic interaction between informality and gender inequality in the labor market. A dynamic stochastic general equilibrium model is built to study the impact of gender-targeted policies on female labor force participation, female formal employment, gender wage gap, as well as on aggregate economic outcomes. The model is estimated using Bayesian techniques and Indian data. Although these policies are found to increase female labor force participation and output, lack of sufficient formal job creation due to labor market rigidities leads to an increase in unemployment and informality, and further widens gender gaps in formal employment and wages. Simultaneously implementing such policies with formal job creating policies helps remove these adverse impacts while also leading to significantly larger gains in output.
Closing Gender Gaps In India Does Increasing Womens Access To Finance Help
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Author : Purva Khera
language : en
Publisher: International Monetary Fund
Release Date : 2018-10-01
Closing Gender Gaps In India Does Increasing Womens Access To Finance Help written by Purva Khera 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 2018-10-01 with Business & Economics categories.
Gender gaps in womens’ economic opportunities—labor market and entrepreneurship—have remained high in India. Lack of adequate collateral limits women entrepreneurs’ ability to access formal finance, leaving them to rely on informal sources, constraining their growth. A small-open economy DSGE model is built to investigate the long-run macroeconomic impacts from closing gender gaps in financial access. Results suggest that an increase in women entrepreneurs access to formal credit results in higher female entrepreneurship and employment, which boosts India’s output by 1.6 percent. However, regulations and gender-specific constraints in the labor market limit potential gains as females’ access to quality jobs in the formal sector remains restricted. The paper shows that the factors influencing the number of females are different from those influencing the share of females in formal economic activity. Combining gender-targeted financial inclusion policies with policies that lower constraints on formal sector employment could boost India’s output by 6.8 percent.
Resource Misallocation In India The Role Of Cross State Labor Market Reform
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Author : Mr.Adil Mohommad
language : en
Publisher: International Monetary Fund
Release Date : 2021-02-26
Resource Misallocation In India The Role Of Cross State Labor Market Reform written by Mr.Adil Mohommad 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.
At the macro level, productivity is driven by technology and the efficiency of resource allocation, as outcomes of firms’ decision making. The relatively high level of resource misallocation in India’s formal manufacturing sector is well documented. We build on this research to further investigate the drivers of misallocation, exploiting micro-level variation across Indian states. We find that states with less rigid labor markets have lesser misallocation. We also examine the interaction of labor market rigidities with informality which is a key feature of India’s labor markets. Our results suggest that reducing labor market rigidities in states with high informality has a net positive effect on aggregate productivity.
The Outsiders
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Author : Sugata Marjit
language : en
Publisher: Oxford University Press
Release Date : 2011-01-19
The Outsiders written by Sugata Marjit 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 2011-01-19 with Business & Economics categories.
The informal economy is a dynamic, active, and hotly debated domain in the developing world. Unfortunately, it remains one of the most ignored areas in mainstream economic theory and development economics. In this book, Marjit and Kar provide a detailed theoretical overview and analytical understanding of informal labour markets in the context of economic reforms. Grounded in the neo-classical general equilibrium framework, the book analyses the impact of deregulatory policies on the welfare of informal workers in a segmented labour market. It discusses how informal wage responds to unemployment in the formal sector by exploring the interactions between the formal and the informal labour markets. The authors also examine institutional factors—political, economic, and governance mechanisms—to explore the major causes that sustain or impede the dynamism of informal labour markets. They offer empirical applications using official data sources and micro-level case studies of informal activities in West Bengal, Maharashtra, and Gujarat.
Macroeconomic Impact Of Product And Labor Market Reforms On Informality And Unemployment In India
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Author : Rahul Anand
language : en
Publisher: International Monetary Fund
Release Date : 2016-03-07
Macroeconomic Impact Of Product And Labor Market Reforms On Informality And Unemployment In India written by Rahul Anand 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 2016-03-07 with Business & Economics categories.
This paper investigates the implications of lowering formal regulations in labor and product markets on informality and macroeconomic outcomes in India. We estimate a DSGE model with an informal sector, and rigidities in the formal labor and product markets. Along with increasing GDP and employment, deregulation also leads to lower informality and greater product market competition. Slow reallocation of resources between the formal and informal sectors leads to some adverse impacts in the short run that can be minimized by implementing a combined package of reforms. These impacts are shown to be greater in an economy with a larger informal sector.
Global Economic Prospects January 2019
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Author : World Bank Group
language : en
Publisher: World Bank Publications
Release Date : 2019-02-12
Global Economic Prospects January 2019 written by World Bank Group and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-02-12 with Business & Economics categories.
The outlook for the global economy has darkened. Global financing conditions have tightened, industrial production has moderated, trade tensions have intensified, and some large emerging market and developing economies have experienced significant financial market stress. Faced with these headwinds, the recovery in emerging market and developing economies has lost momentum. Downside risks have become more acute and include the possibility of disorderly financial market movements and an escalation of trade disputes. Debt vulnerabilities in emerging market and developing economies, particularly low-income countries, have increased. More frequent severe weather events would raise the possibility of large swings in international food prices, which could deepen poverty. In this difficult environment, it is of paramount importance for emerging market and developing economies to rebuild policy buffers while laying a stronger foundation for future growth by boosting human capital, promoting trade integration, and addressing the challenges associated with informality,
The Labor Market And Economic Adjustment
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Author : Pierre-Richard Agénor
language : en
Publisher: International Monetary Fund
Release Date : 1995-11-01
The Labor Market And Economic Adjustment written by Pierre-Richard Agénor 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 1995-11-01 with Business & Economics categories.
This paper examines the role of the labor market in the transmission process of adjustment policies in developing countries. It begins by reviewing the recent evidence regarding the functioning of these markets. It then studies the implications of wage inertia, nominal contracts, labor market segmentation, and impediments to labor mobility for stabilization policies. The effect of labor market reforms on economic flexibility and the channels through which labor market imperfections alter the effects of structural adjustment measures are discussed next. The last part of the paper identifies a variety of issues that may require further investigation, such as the link between changes in relative wages and the distributional effects of adjustment policies.
Good Jobs Bad Jobs No Jobs
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Author : Tony Avirgan
language : en
Publisher:
Release Date : 2005
Good Jobs Bad Jobs No Jobs written by Tony Avirgan and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with Business & Economics categories.
The Long Shadow Of Informality
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Author : Franziska Ohnsorge
language : en
Publisher: World Bank Publications
Release Date : 2022-02-09
The Long Shadow Of Informality written by Franziska Ohnsorge and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-02-09 with Business & Economics categories.
A large percentage of workers and firms operate in the informal economy, outside the line of sight of governments in emerging market and developing economies. This may hold back the recovery in these economies from the deep recessions caused by the COVID-19 pandemic--unless governments adopt a broad set of policies to address the challenges of widespread informality. This study is the first comprehensive analysis of the extent of informality and its implications for a durable economic recovery and for long-term development. It finds that pervasive informality is associated with significantly weaker economic outcomes--including lower government resources to combat recessions, lower per capita incomes, greater poverty, less financial development, and weaker investment and productivity.