The Impact Of Labor Market Reforms On Income Inequality
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The Impact Of Labor Market Reforms On Income Inequality
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Author : Gabriel Frossard Barbosa
language : en
Publisher:
Release Date : 2018
The Impact Of Labor Market Reforms On Income Inequality written by Gabriel Frossard Barbosa and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018 with Economics categories.
This paper explores the impact of changes in the rigidity of labor market legislation on income inequality. Although traditional scholarship has focused on the impact of institutional arrangements on a selection of economic outcomes such as unemployment and labor force participation, comparably little attention has been paid to the effects arising from the rigidity of existing labor market institutions and its implications for income inequality. To date little is known about how and through which channels changes and overall rigidity of labor markets impact income inequality. In order to investigate this relationship, I compile a unique dataset based on the Labor Market Rigidity Index (LAMRIG) constructed by Campos and Nugent (2012), which covers over 140 countries between 1950 and 2004, as well as a composite measure of Gini coefficients for the same period. I further refine my analysis to examine wage dispersions through which labor market legislation affects, contracting or widening, incomes in different countries as well as the impact of the substitution of labor for capital. My results confirm previous findings on the negative association between labor market rigidity, wage dispersion, the financialization of the economy, and income inequality. Moreover, I find that positive changes in labor market legislation, i.e. greater labor market protections and centralization are associated with negative changes in intra-country differences between top and low-wage earners. These estimation results are robust to different model specifications and assumptions. From a policy perspective, my findings imply that labor market reforms might produce undesirable side effects in aggravating wage dispersion and income inequality.
Distributional Implications Of Labor Market Reforms Learning From Spain S Experience
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Author : Ara Stepanyan
language : en
Publisher: International Monetary Fund
Release Date : 2020-02-13
Distributional Implications Of Labor Market Reforms Learning From Spain S Experience written by Ara Stepanyan 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 2020-02-13 with Business & Economics categories.
Spain’s structural reforms, implemented around 2012, have arguably contributed to a faster and stronger economic recovery. In particular, there is strong evidence that the 2012 labor market reforms increased wage flexibility, which helped the Spanish economy to regain competitiveness and create jobs. But the impact of these labor reforms on income inequality and social inclusion has not been analyzed much. This paper aims to shed light on this issue by employing an econometric decomposition procedure combined with the synthetic control method. The results indicate that the 2012 labor reforms have helped improve employment and income equality outcomes with no substantial impact on the overall risk of poverty. Nevertheless, the reforms appear to have induced a deterioration of average hours worked, in-work poverty, and possibly also of involuntary part-time employment.
Labor Market Distortions Rural Urban Inequality And The Opening Of People S Republic Of China S Economy
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Author : Thomas Warren Hertel
language : en
Publisher: World Bank Publications
Release Date : 2004
Labor Market Distortions Rural Urban Inequality And The Opening Of People S Republic Of China S Economy written by Thomas Warren Hertel 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 2004 with China categories.
The authors find that reform of the Hukou system has the most significant impact on aggregate economic activity, as well as income distribution. Whereas the land market reform primarily benefits the agricultural households, this reform's primary beneficiaries are the rural households currently sending temporary migrants to the city. By reducing the implicit tax on temporary migrants, Hukou reform boosts their welfare and contributes to increased rural-urban migration. The combined effect of both factor market reforms is to reduce the urban-rural income ratio dramatically, from 2.59 in 2007 under the authors' baseline scenario to 2.27. When viewed as a combined policy package, along with WTO accession, rather than increasing inequality in China, the combined impact of product and factor market reforms significantly reduces rural-urban income inequality. This is an important outcome in an economy currently experiencing historic levels of rural-urban inequality"--Abstract.
Labour Markets And Income Inequality
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Author : Rolph van der Hoeven
language : en
Publisher:
Release Date : 2000
Labour Markets And Income Inequality written by Rolph van der Hoeven and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with Distributive justice categories.
Discusses the outcomes of the economic reform policies of the 1980s and 1990s in terms of inequality focusing on developing countries.
Labor Market Distortions Rural Urban Inequality And The Opening Of China S Economy
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Author : Thomas W. Hertel
language : en
Publisher:
Release Date : 2016
Labor Market Distortions Rural Urban Inequality And The Opening Of China S Economy written by Thomas W. Hertel and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with categories.
Hertel and Zhai evaluate the impact of two key factor market distortions in China on rural-urban inequality and income distribution. They find that creation of a fully functioning land market has a significant impact on rural-urban inequality. This reform permits agricultural households to focus solely on the differential between farm and nonfarm returns to labor in determining whether to work on or off-farm. This gives rise to an additional 10 million people moving out of agriculture by 2007 and lends a significant boost to the incomes of those remaining in agriculture. This off-farm migration also contributes to a significant rise in rural-urban migration, thereby lowering urban wages, particularly for unskilled workers. As a consequence, rural-urban inequality declines significantly.The authors find that reform of the Hukou system has the most significant impact on aggregate economic activity, as well as income distribution. Whereas the land market reform primarily benefits the agricultural households, this reform's primary beneficiaries are the rural households currently sending temporary migrants to the city. By reducing the implicit tax on temporary migrants, Hukou reform boosts their welfare and contributes to increased rural-urban migration. The combined effect of both factor market reforms is to reduce the urban-rural income ratio dramatically, from 2.59 in 2007 under the authors' baseline scenario to 2.27.When viewed as a combined policy package, along with WTO accession, rather than increasing inequality in China, the combined impact of product and factor market reforms significantly reduces rural-urban income inequality. This is an important outcome in an economy currently experiencing historic levels of rural-urban inequality.This paper - a product of the Trade Team, Development Research Group - is part of a larger effort in the group to evaluate the poverty impacts of trade policy reforms.
Inequality And Labor Market Institutions
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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.
Labor Market Distortions Rural Urban Inequality And The Opening Of China S Economy
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Author : Thomas Hertel
language : en
Publisher:
Release Date : 2013
Labor Market Distortions Rural Urban Inequality And The Opening Of China S Economy written by Thomas Hertel and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with categories.
The authors evaluate the impact of two key factor market distortions in China on rural-urban inequality and income distribution. They find that creation of a fully functioning land market has a significant impact on rural-urban inequality. This reform permits agricultural households to focus solely on the differential between farm and non-farm returns to labor in determining whether to work on or off-farm. This gives rise to an additional 10 million people moving out of agriculture by 2007 and lends a significant boost to the incomes of those remaining in agriculture. This off-farm migration also contributes to a significant rise in rural-urban migration, thereby lowering urban wages, particularly for unskilled workers. As a consequence, rural-urban inequality declines significantly. The authors find that reform of the Hukou system has the most significant impact on aggregate economic activity, as well as income distribution. Whereas the land market reform primarily benefits the agricultural households, this reform's primary beneficiaries are the rural households currently sending temporary migrants to the city. By reducing the implicit tax on temporary migrants, Hukou reform boosts their welfare and contributes to increased rural-urban migration. The combined effect of both factor market reforms is to reduce the urban-rural income ratio dramatically, from 2.59 in 2007 under the authors' baseline scenario to 2.27. When viewed as a combined policy package, along with WTO accession, rather than increasing inequality in China, the combined impact of product and factor market reforms significantly reduces rural-urban income inequality. This is an important outcome in an economy currently experiencing historic levels of rural-urban inequality.
Inequality And The Labor Market
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Author : Sharon Block
language : en
Publisher: Brookings Institution Press
Release Date : 2021-04-06
Inequality And The Labor Market written by Sharon Block and has been published by Brookings Institution Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-04-06 with Law categories.
Exploring a new agenda to improve outcomes for American workers As the United States continues to struggle with the impact of the devastating COVID-19 recession, policymakers have an opportunity to redress the competition problems in our labor markets. Making the right policy choices, however, requires a deep understanding of long-term, multidimensional problems. That will be solved only by looking to the failures and unrealized opportunities in anti-trust and labor law. For decades, competition in the U.S. labor market has declined, with the result that American workers have experienced slow wage growth and diminishing job quality. While sluggish productivity growth, rising globalization, and declining union representation are traditionally cited as factors for this historic imbalance in economic power, weak competition in the labor market is increasingly being recognized as a factor as well. This book by noted experts frames the legal and economic consequences of this imbalance and presents a series of urgently needed reforms of both labor and anti-trust laws to improve outcomes for American workers. These include higher wages, safer workplaces, increased ability to report labor violations, greater mobility, more opportunities for workers to build power, and overall better labor protections. Inequality in the Labor Market will interest anyone who cares about building a progressive economic agenda or who has a marked interest in labor policy. It also will appeal to anyone hoping to influence or anticipate the much-needed progressive agenda for the United States. The book's unusual scope provides prescriptions that, as Nobel Laureate Joseph Stiglitz notes in the introduction, map a path for rebalancing power, not just in our economy but in our democracy.
Economic Reforms Growth And Inequality In Latin America
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Author : Gustavo Indart
language : en
Publisher: Routledge
Release Date : 2019-06-04
Economic Reforms Growth And Inequality In Latin America written by Gustavo Indart and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-06-04 with Business & Economics categories.
Originally published in 2004. Growth, income distribution, and labour markets are issues of pivotal importance in the Latin American context. Examining unique theoretical issues and the empirical evidence, this book provides a critical analysis of the key elements of income distribution determinants, labour market functions, trade policies, and their interrelations. As the advance of globalization becomes seemingly unstoppable, this book provides an important reappraisal of the impact of this new phenomenon, and in particular, the pernicious impact it may have on income growth and distribution. The key objective of the volume is to integrate more fully the analysis of trade and labour market economists, in order to better understand the labour market and income distribution implications of globalization and international integration. Forty years after the early calls to appropriately investigate the micro foundations of macroeconomics, the separation of the two at the policy level is more damaging than ever before - particularly for developing regions; this volume therefore makes an important contribution at the theoretical and policy levels by bringing together macroeconomic and microeconomic analyses.
Fiscal Reforms Long Term Growth And Income Inequality
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Author : Mr.Santiago Acosta Ormaechea
language : en
Publisher: International Monetary Fund
Release Date : 2017-06-29
Fiscal Reforms Long Term Growth And Income Inequality written by Mr.Santiago Acosta Ormaechea 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 2017-06-29 with Business & Economics categories.
We estimate the effects on growth of nine fiscal reform episodes in seven high-income countries using the Synthetic Control Method. These episodes are selected using an indicator-based approach applied to the evaluation of growth-friendly fiscal reforms during 1975-2010. We find that in reform countries the annual growth rate of real GDP was on average about 1 percentage point above their synthetic units 10 years after each respective reform. Moreover, countries which were initially less developed seemed to experience a larger growth impact after their reforms. Results are broadly robust to controlling for structural reforms on business regulation, financial market, labor market, and legal and product markets, which may also affect growth. Our findings also suggest that inequality is not affected by the growth-friendly fiscal reforms analyzed in this paper.