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Author: Mr.Romain A Duval
Publisher: International Monetary Fund
ISBN: 1484333438
Category : Business & Economics
Languages : en
Pages : 44
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Book Description
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.
Author: Mr.Romain A Duval
Publisher: International Monetary Fund
ISBN: 1484333438
Category : Business & Economics
Languages : en
Pages : 44
Get Book Here
Book Description
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.
Author: Romain Duval
Publisher:
ISBN:
Category :
Languages : en
Pages : 45
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Book Description
This paper explores the short-term employment effect of deregulating job protection forregular workers and how it varies with prevailing business cycle conditions. We apply a localprojection method to a newly constructed 'narrative' dataset of major regular job protectionreforms covering 26 advanced economies over the past four decades. The analysis relies oncountry-sector-level data, using as an identifying assumption the fact that stringent dismissalregulations are more binding in sectors that are characterized by a higher 'natural' propensityto regularly adjust their workforce. We find that the responses of sectoral employment to largejob protection deregulation shocks depend crucially on the state of the economy at the timeof reform--they are positive in an expansion, but become negative in a recession. Thesefindings are consistent with theory, and are robust to a broad range of robustness checksincluding an Instrumental Variable approach using political economy drivers of reforms asinstruments. 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.
Author: Tony Avirgan
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 524
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Book Description
Author: James J. Heckman
Publisher: University of Chicago Press
ISBN: 0226322858
Category : Law
Languages : en
Pages : 585
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Book Description
Law and Employment analyzes the effects of regulation and deregulation on Latin American labor markets and presents empirically grounded studies of the costs of regulation. Numerous labor regulations that were introduced or reformed in Latin America in the past thirty years have had important economic consequences. Nobel Prize-winning economist James J. Heckman and Carmen Pagés document the behavior of firms attempting to stay in business and be competitive while facing the high costs of complying with these labor laws. They challenge the prevailing view that labor market regulations affect only the distribution of labor incomes and have little or no impact on efficiency or the performance of labor markets. Using new micro-evidence, this volume shows that labor regulations reduce labor market turnover rates and flexibility, promote inequality, and discriminate against marginal workers. Along with in-depth studies of Colombia, Peru, Brazil, Argentina, Chile, Uruguay, Jamaica, and Trinidad, Law and Employment provides comparative analysis of Latin American economies against a range of European countries and the United States. The book breaks new ground by quantifying not only the cost of regulation in Latin America, the Caribbean, and in the OECD, but also the broader impact of this regulation.
Author: International Monetary Fund. Research Dept.
Publisher: International Monetary Fund
ISBN: 1513508210
Category : Business & Economics
Languages : en
Pages : 208
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Book Description
Global growth is forecast at 3.0 percent for 2019, its lowest level since 2008–09 and a 0.3 percentage point downgrade from the April 2019 World Economic Outlook.
Author: World Bank
Publisher: World Bank Publications
ISBN: 1464814414
Category : Business & Economics
Languages : en
Pages : 254
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Book Description
Seventeen in a series of annual reports comparing business regulation in 190 economies, Doing Business 2020 measures aspects of regulation affecting 10 areas of everyday business activity.
Author: OECD
Publisher: OECD Publishing
ISBN: 9264911375
Category :
Languages : en
Pages : 247
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Book Description
Going for Growth 2021 identifies country-specific structural policy priorities for the recovery across OECD and key non-member countries (Argentina, Brazil, The People’s Republic of China, Costa Rica, India, Indonesia and South Africa). It frames the main policy challenges of the current juncture along three main areas: building resilience; facilitating reallocation and boosting productivity growth for all; and supporting people in transition.
Author: Jules Backman
Publisher:
ISBN:
Category : Law
Languages : en
Pages : 200
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Book Description
Author: Romain Bouis
Publisher: International Monetary Fund
ISBN: 1484385020
Category : Business & Economics
Languages : en
Pages : 26
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Book Description
The paper investigates the economic effects of major product market reforms in some of the historically most protected non-manufacturing industries. It relies on a unique mapping between new annual data on reform shocks and sector-level outcomes for five network industries (electricity and gas, land transport, air transport, postal services, and telecommunications) in twenty-six countries spanning over three decades. The use of a threedimensional panel and careful instrumentation of reform shocks using external instruments enables us to control for economy-wide macroeconomic shocks and address possible sources of omitted variable bias more broadly. Using a local projection method, we find that major reductions in barriers to entry yield large increases in output and labor productivity over a five-year horizon, concomitant with a relative price decline. By contrast, there is only a weak positive effect on sectoral employment, and investment is essentially unaffected, suggesting that output gains from reform primarily reflect higher total factor productivity. It takes some time for these gains to materialize: effects become statistically significant two to three years after the reform, as prices start dropping, and productivity and output increase significantly. However, there is no evidence of any negative short-term cost from reform, including under weak macroeconomic conditions. These findings provide a clear case for intensifying product market reform efforts in advanced economies at the current juncture of weak growth.
Author: Daniel Béland
Publisher: Oxford University Press
ISBN: 0198828381
Category : Political Science
Languages : en
Pages : 1025
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Book Description
This is the comprehensively-revised second edition of a volume that was welcomed at its first appearance as 'the most authoritative survey and critique of the welfare state yet published'. Its fifty-one chapters have been written by acknowledged experts in the field from across Europe, Australia, and North America. Some chapters are brand new; all have been systematically revised, and they are right up to date. The first seven sections of the book cover the themes of Ethics, History, Approaches, Inputs and Actors, Policies, Policy Outcomes, and Worlds of Welfare. A final chapter is devoted to the future of welfare and well-being under the imperatives of climate change. Every chapter is written in a way that is both comprehensive and succinct, introducing the novice reader to the essentials of what is going on while providing new insights for the more experienced researcher. Wherever appropriate, the handbook brings the very latest empirical evidence to bear. It is a book that is thoroughly comparative in every way. The Oxford Handbook of the Welfare State, second edition, is a comprehensible and comprehensive survey of everything that it is important to know about the welfare state in these troubled times. It is an indispensable source for everyone who wants to know what is really going on now, and what is likely to happen next.
