Download e-book for iPad: Adjustment Policies, Poverty, and Unemployment: The IMMPA by Pierre-Richard Agenor, Alejandro Izquierdo, Henning Tarp

By Pierre-Richard Agenor, Alejandro Izquierdo, Henning Tarp Jensen

ISBN-10: 1405136332

ISBN-13: 9781405136334

ISBN-10: 1405171391

ISBN-13: 9781405171397

Pierre-Richard Agenor's pioneering paintings on built-in Macroeconomics versions for Poverty research (IMMPA) is cataloged for the 1st time during this must-read volume.A type of dynamic computable basic equilibrium versions, IMMPA versions are designed to investigate the impression of adjustment rules on unemployment and poverty within the constructing global. together with either papers initially circulated throughout the global financial institution, in addition to new fabric that areas this significant paintings in its greater context, Adjustment guidelines, Poverty, and Unemployment info the background and makes use of of those versions up to now, in addition to pointing to destiny advancements for his or her usage.

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If σ → 0 (or ρ → −∞), the production function takes the Leontief form, and output can be produced only by using skilled and unskilled labor in fixed proportions. If σ → 1 (or ρ → 0), the production function tends to the Cobb-Douglas case. AGENOR: “CHAP01” — 2006/11/9 — 12:35 — PAGE 29 — #22 30 Chapter 1 which is greater than unity as long as e > x 1/(σ −1) . 28 Most importantly for the purpose at hand, equation (8) also implies that ∂ ln ω = (σ − 1)/σ , ∂ ln e so that if σ > 1 (that is, ρ ∈ (0, 1) and labor categories are gross substitutes) then an increase in skilled labor’s effort increases the wage ratio.

4 capture these interactions between the formal and informal sectors. They help to illustrate how the adverse output and employment effects of macroeconomic shocks can be mitigated by a shift to informal production activities. 2 Urban Labor Mobility and the Harris-Todaro Framework An early model of labor market segmentation in developing countries is the migration model of Harris and Todaro (1970). The main objective of the model was to explain the persistence of rural-to-urban migration, despite the existence of widespread urban unemployment in developing countries.

They found some evidence of a negative employment effect of higher minimum wages for small domestic firms, but no effect for large firms, either domestic or foreign. One reason for this outcome may be that small firms tend to be more labor intensive, and therefore tend to adjust faster to changes in labor costs. Hiring and Firing Regulations Legislation on hiring, firing and regulation of working time is aimed at providing protection to workers engaged in a contractual employment relationship. Although the exact nature of regulations varies considerably across countries, many developing nations provide extensive employment protection to workers in the formal sector, such as restrictions on firms’ ability to lay off workers without “proper” justification or reason (the definition of “proper” sometimes being very narrow and subject to false claims), the requirement of long notification periods prior to dismissal, generous severance arrangements that must be borne by firms, and administrative procedures that delay or prevent layoffs and plant closures.

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Adjustment Policies, Poverty, and Unemployment: The IMMPA Framework by Pierre-Richard Agenor, Alejandro Izquierdo, Henning Tarp Jensen

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