Employment Protection Deregulation and Labor Shares in Advanced Economies - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Employment Protection Deregulation and Labor Shares in Advanced Economies write by Gabriele Ciminelli. This book was released on 2018-08-16. Employment Protection Deregulation and Labor Shares in Advanced Economies available in PDF, EPUB and Kindle. Labor market deregulation, intended to boost productivity and employment, is one plausible, yet little studied, driver of the decline in labor shares that took place across most advanced economies since the early 1990s. This paper assesses the impact of job protection deregulation in a sample of 26 advanced economies over the period 1970-2015, using a newly constructed dataset of major reforms to employment protection legislation for regular contracts. We apply the local projection method to estimate the dynamic response of the labor share to our reform events at both the country and the country-industry levels. For the latter, we employ a differences-in-differences identification strategy using two identifying assumptions grounded in theory—namely that job protection deregulation should have larger negative effects in industries characterized by (i) a higher “natural” propensity to adjust the workforce, and (ii) a lower elasticity of substitution between capital and labor. We find a statistically significant, economically large and robust negative effect of deregulation on the labor share. In particular, illustrative back-of-the-envelope calculations suggest that job protection deregulation may have contributed about 15 percent to the average labor share decline in advanced economies. Together with existing evidence regarding the macroeconomic gains from job protection and other labor market reforms, our results also point to the need for policymakers to address efficiency-equity trade-offs when designing such reforms.
Why Is Labor Receiving a Smaller Share of Global Income? Theory and Empirical Evidence
Why Is Labor Receiving a Smaller Share of Global Income? Theory and Empirical Evidence - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Why Is Labor Receiving a Smaller Share of Global Income? Theory and Empirical Evidence write by Mai Chi Dao. This book was released on 2017-07-24. Why Is Labor Receiving a Smaller Share of Global Income? Theory and Empirical Evidence available in PDF, EPUB and Kindle. This paper documents the downward trend in the labor share of global income since the early 1990s, as well as its heterogeneous evolution across countries, industries and worker skill groups, using a newly assembled dataset, and analyzes the drivers behind it. Technological progress, along with varying exposure to routine occupations, explains about half the overall decline in advanced economies, with a larger negative impact on middle-skilled workers. In emerging markets, the labor share evolution is explained predominantly by global integration, particularly the expansion of global value chains that contributed to raising the overall capital intensity in production.
Law and Employment
Law and Employment - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Law and Employment write by James J. Heckman. This book was released on 2007-11-01. Law and Employment available in PDF, EPUB and Kindle. 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.
Designing Labor Market Institutions in Emerging and Developing Economies
Designing Labor Market Institutions in Emerging and Developing Economies - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Designing Labor Market Institutions in Emerging and Developing Economies write by Mr.Romain A Duval. This book was released on 2019-05-21. Designing Labor Market Institutions in Emerging and Developing Economies available in PDF, EPUB and Kindle. This paper discusses theoretical aspects and evidences related to designing labor market institutions in emerging market and developing economies. This note reviews the state of theory and evidence on the design of labor market institutions in a developing economy context and then reviews its consistency with actual labor market advice in a selected set of emerging and developing economies. The focus is mainly on three broad sets of institutions that matter for both workers’ protection and labor market efficiency: employment protection, unemployment insurance and social assistance, minimum wages and collective bargaining. Text mining techniques are used to identify IMF recommendations in these areas in Article IV Reports for 30 emerging and frontier economies over 2005–2016. This note has provided a critical review of the literature on the design of labor market institutions in emerging and developing market economies, and benchmarked the advice featured in IMF recommendations for 30 emerging market and frontier economies against the tentative conclusions from the literature.
Wage-Led Growth
Wage-Led Growth - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Wage-Led Growth write by Engelbert Stockhammer. This book was released on 2013-12-03. Wage-Led Growth available in PDF, EPUB and Kindle. This volume seeks to go beyond the microeconomic view of wages as a cost having negative consequences on a given firm, to consider the positive macroeconomic dynamics associated with wages as a major component of aggregate demand.
