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Author: Pierre-Richard Agénor
Publisher: International Monetary Fund
ISBN: 1451850166
Category : Business & Economics
Languages : en
Pages : 42
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Book Description
The paper analyzes the role of labor market segmentation and relative wage rigidity in the transmission process of macroeconomic shocks in a two-sector optimizing model of a small open economy. The analysis is first conducted in the context of perfect intersectoral labor mobility. The discussion is then extended to consider the existence of short-run constraints on labor movements. The results highlight the role of efficiency considerations in the behavior of sectoral wages. A deflationary policy induces a reallocation of labor across sectors, but has no long-run effect on the unemployment rate.
Author: Pierre-Richard Agénor
Publisher: International Monetary Fund
ISBN: 1451850166
Category : Business & Economics
Languages : en
Pages : 42
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Book Description
The paper analyzes the role of labor market segmentation and relative wage rigidity in the transmission process of macroeconomic shocks in a two-sector optimizing model of a small open economy. The analysis is first conducted in the context of perfect intersectoral labor mobility. The discussion is then extended to consider the existence of short-run constraints on labor movements. The results highlight the role of efficiency considerations in the behavior of sectoral wages. A deflationary policy induces a reallocation of labor across sectors, but has no long-run effect on the unemployment rate.
Author: Pierre-Richard Agenor
Publisher:
ISBN:
Category :
Languages : en
Pages : 40
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Book Description
The paper analyzes the role of labor market segmentation and relative wage rigidity in the transmission process of macroeconomic shocks in a two-sector optimizing model of a small open economy. The analysis is first conducted in the context of perfect intersectoral labor mobility. The discussion is then extended to consider the existence of short-run constraints on labor movements. The results highlight the role of efficiency considerations in the behavior of sectoral wages. A deflationary policy induces a reallocation of labor across sectors, but has no long-run effect on the unemployment rate.
Author: Pierre-Richard Agénor
Publisher: International Monetary Fund
ISBN: 1451968248
Category : Business & Economics
Languages : en
Pages : 50
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Book Description
This paper analyzes the macroeconomic effects of fiscal and labor market policies in developing countries. The basic framework considers a small open economy with a large informal production sector and a heterogeneous work force. The labor market is segmented as a result of efficiency considerations and minimum wage laws. The basic model is then extended to account for unemployment benefits, income taxation, and imperfect labor mobility across sectors. The analysis indicates, among other results, that a reduction in unemployement benefits has a positive effect on output of tradable goods by lowering both the level of efficiency wages and the relative rent captured by skilled workers.
Author: George M Agiomirgianakis
Publisher: Routledge
ISBN: 042980931X
Category : Business & Economics
Languages : en
Pages : 176
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Book Description
First published in 1999, this study recognises the importance of international labour mobility for modern economics. This is in large part due to its effects on the size, age structure and skills of the labour force, the human flow between countries and the expected rise in scale as a result of income differentials, demographic pressures and differential labour-force growth rates along with developments in transport and communications. These migrations are increasingly volatile and unpredictable, whilst being concentrated in regions like Australia, the USA, Sub-Saharan Africa and Western Europe. Given the extensive literature on the microeconomic view, George M. Agiomirgianakis aims to extend the debate on open economy macroeconomics through an exploration of international labour mobilities and their effects on open economies with flexible exchange rates.
Author: Bharati Basu
Publisher: Routledge
ISBN: 1134428235
Category : Business & Economics
Languages : en
Pages : 200
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Book Description
This book examines the role of international labor mobility in the presence of endogenously created unemployment and increasing returns to scale technology.
Author: George A. Akerlof
Publisher: Cambridge University Press
ISBN: 9780521312844
Category : Business & Economics
Languages : en
Pages : 196
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Book Description
The contributors explore the reasons why involuntary unemployment happens when supply equals demand.
Author: Pierre-Richard Agénor
Publisher: International Monetary Fund
ISBN: 1451854781
Category : Business & Economics
Languages : en
Pages : 98
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Book Description
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.
Author: Andrew Weiss
Publisher: Princeton Legacy Library
ISBN: 9780691637273
Category : Political Science
Languages : en
Pages : 128
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Book Description
Known for his seminal work in efficiency-wage theory, Andrew Weiss surveys recent research in the field and presents new results. He shows how wage schedules affect the kinds of workers a firm employs and how well those workers perform on the job. Using straightforward examples, he demonstrates how efficiency-wage theory can explain labor market outcomes and guide government policy. There is a separate section of applications to less developed countries. "Efficiency-wage models represent one of the most important developments in economic theory of recent years. They have, at last, provided integrated explanations both of macroeconomic phenomena, such as unemployment and wage rigidity, and microeconomic phenomena, such as wage dispersion. Weiss--one of the pioneers of efficiency-wage theory--provides here a masterful survey, a lucid and systematic and yet critical account of this rapidly developing branch of economics. This book should be required reading in all courses in macroeconomics."--Joseph Stiglitz, Stanford University "Efficiency Wages should be on the bookshelf of all labor and macroeconomists."--Lawrence H. Summers, Harvard University "A splendid monograph ... most readable... I will put it on my reading list."--Partha Dasgupta, Stanford University Originally published in 1991. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.
Author: Pierre-Richard Agenor
Publisher:
ISBN:
Category :
Languages : en
Pages : 50
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Book Description
This paper analyzes the macroeconomic effects of fiscal and labor market policies in developing countries. The basic framework considers a small open economy with a large informal production sector and a heterogeneous work force. The labor market is segmented as a result of efficiency considerations and minimum wage laws. The basic model is then extended to account for unemployment benefits, income taxation, and imperfect labor mobility across sectors. The analysis indicates, among other results, that a reduction in unemployement benefits has a positive effect on output of tradable goods by lowering both the level of efficiency wages and the relative rent captured by skilled workers.
Author: The World Bank
Publisher: World Bank Publications
ISBN: 1464812829
Category :
Languages : en
Pages :
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Book Description
