Reforming The Labor Market In A Liberalized Economy
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Reforming The Labor Market In A Liberalized Economy
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Author : Gustavo Márquez
language : en
Publisher: IDB
Release Date : 1995
Reforming The Labor Market In A Liberalized Economy written by Gustavo Márquez and has been published by IDB this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995 with Business & Economics categories.
In addition, countries must produce a transparent atmosphere that depoliticizes contract disputes and negotiations. Finally, they must reform and strengthen institutions responsible for labor policies.
Can Reform Waves Turn The Tide Some Case Studies Using The Synthetic Control Method
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Author : Bibek Adhikari
language : en
Publisher: International Monetary Fund
Release Date : 2016-08-09
Can Reform Waves Turn The Tide Some Case Studies Using The Synthetic Control Method written by Bibek Adhikari 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 2016-08-09 with Business & Economics categories.
A number of advanced economies carried out a sequence of extensive reforms of their labor and product markets in the 1990s and early 2000s. Using the Synthetic Control Method (SCM), this paper implements six case studies of well-known waves of reforms, those of New Zealand, Australia, Denmark, Ireland and Netherlands in the 1990s, and the labor market reforms in Germany in the early 2000s. In four of the six cases, GDP per capita was higher than in the control group as a result of the reforms. No difference between the treated country and its synthetic counterpart could be found in the cases of Denmark and New Zealand, which in the latter case may have partly reflected the implementation of reforms under particularly weak macroeconomic conditions. Overall, also factoring in the limitations of the SCM in this context, the results are suggestive of a positive but heterogenous effect of reform waves on GDP per capita.
Reforming Labor And Product Markets
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Author : Tito Boeri
language : en
Publisher: International Monetary Fund
Release Date : 2005-05
Reforming Labor And Product Markets written by Tito Boeri 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 2005-05 with Business & Economics categories.
This paper evaluates European structural reforms over the last 20 years, in light of economic theory predictions about interactions between labor and product market reforms. Reforms in labor markets occur at higher frequencies than in product market, which are, however, more coherent. These asymmetries can be explained by the nature of political obstacles to reforms in the two domains. Labor market reforms can exploit institutional trade-offs; notably, reforms can trade labor market flexibility with state-provided unemployment insurance and can be applied only to new entrants in the market without affecting the set of regulations applied to existing workers. These two-tier strategies are infeasible in product markets, since incumbent firms can easily drive away new entrants. In product markets, however, it is possible to shift responsibilities to supranational authorities, resisting pressures of national lobbies.
Policy Complementarities
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Author : Mr.David T. Coe
language : en
Publisher: International Monetary Fund
Release Date : 1996-08-01
Policy Complementarities written by Mr.David T. Coe 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 1996-08-01 with Business & Economics categories.
This paper argues that an important group of labor market policies are complementary in the sense that the effect of each policy is greater when implemented in conjunction with the other policies than in isolation. This may explain why the diverse, piecemeal labor market reforms in many European countries in recent years have had so little success in reducing unemployment. What is required instead is deeper labor market reforms across a broader range of complementary policies and institutions. To be politically feasible, these reforms must be combined with measures to address distributional issues.
Labor And Product Market Reforms In Advanced Economies
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Author : Angana Banerji
language : en
Publisher: International Monetary Fund
Release Date : 2017-03-13
Labor And Product Market Reforms In Advanced Economies written by Angana Banerji 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 2017-03-13 with Business & Economics categories.
Product and labor market reforms are needed to lift persistently sluggish growth in advanced economies. But reforms have progressed slowly because of concerns about their distributive and short-term economic effects. Our analysis, based on new empirical and numerical analysis and country case-studies shows that most labor and product market reforms can improve public debt dynamics over the medium-term. This because reforms raise output by boosting employment and/or labor productivity. But the effect of some labor market reforms on budgetary outcomes and fiscal sustainability depends critically on business cycle conditions. Our evidence also suggests that some temporary and well-designed up-front fiscal stimulus can help enhance the economic impact of reforms. In the past, countries have used fiscal incentives in the past to facilitate reforms by alleviating transition and social costs. But strong ownership of reforms was crucial for their successful implementation.
The Needle In The Haystack What Drives Labor And Product Market Reforms In Advanced Countries
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Author : Mr.Romain A Duval
language : en
Publisher: International Monetary Fund
Release Date : 2018-05-09
The Needle In The Haystack What Drives Labor And Product Market Reforms In Advanced Countries 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 2018-05-09 with Business & Economics categories.
The political economy literature has put forward a multitude of hypotheses regarding the drivers of structural reforms, but few, if any, empirically robust findings have emerged thus far. To make progress, we draw a parallel with model uncertainty in the growth literature and provide a new version of the Bayesian averaging of maximum likelihood estimates (BAMLE) technique tailored to binary logit models. Relying on a new database of major past labor and product market reforms in advanced countries, we test a large set of variables for robust correlation with reform in each area. We find widespread support for the crisis-induces-reform hypothesis. Outside pressure increases the likelihood of reform in certain areas: reforms are more likely when other countries also undertake them and when there is formal pressure to implement them. Other robust correlates are more specific to certain areas—for example, international pressure and political factors are most relevant for product market and job protection reforms, respectively.
Trade Liberalization And Unemployment
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Author : Pierre-Richard Agénor
language : en
Publisher: International Monetary Fund
Release Date : 1995-02
Trade Liberalization And Unemployment 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 1995-02 with Business & Economics categories.
This paper examines the effect of trade reform on wages and unemployment in a two-sector, three-good economy in which labor is imperfectly mobile across sectors. Wages in the export sector are set so as to minimize turnover costs. The analysis shows that a reduction in tariffs, coupled with an adjustment in lump-sum taxes to equilibrate the government budget, lowers wages in all production sectors in the short and the medium run but has an ambiguous effect on unemployment. Although employment and production of exportables expand in the medium run, the unemployment rate may rise or fall depending on whether the elasticity of wages in the export sector with respect to wages in the nontraded goods sector is lower or greater than unity. Potentially adverse effects may be mitigated in the long run, however, as a result of induced shifts in the structure of production activities.
Republic Of Belarus
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2012-05-17
Republic Of Belarus written by International Monetary Fund 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 2012-05-17 with Business & Economics categories.
This Selected Issues Paper presents an analysis of Belarus-specific conditions and cross-country research, and proposes a roadmap for real-sector reforms. It highlights distortions resulting from the government’s interference in the economy, and presents an overview of economic benefits of deregulation, labor market liberalization, and enterprise reform. The paper also provides estimates of potential gains for Belarus from conducting structural reforms, and offers a blueprint for restructuring while minimizing the risks of resource dislocation.
Economic Reforms Growth And Employment
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Author : Jürgen Weller
language : en
Publisher: Santiago, Chile : ECLAC
Release Date : 2001
Economic Reforms Growth And Employment written by Jürgen Weller and has been published by Santiago, Chile : ECLAC this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with Capital market categories.
In the last ten to fifteen years, profound structural reforms have moved Latin America and the Caribbean from closed, state-dominated economies to ones that are more market-oriented and open. Policymakers expected that these changes would speed up growth. This book is part of a multi-year project to determine whether these expectation have been fulfilled. Analysing the impact of the reforms on employment it is argued that expectations were not fulfilled with respect to the operation of the labour markets. The reforms limited the expansion of employment in some sectors, particularly in tradeable goods. They also created a bias in labour demad for better educated workers which exacerbates inequality. It is thus made clear that the region faces major challenges both in increasing the number of jobs and improving job equality.
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.