By Pierre-Richard Agenor, Alejandro Izquierdo, Henning Tarp Jensen
Pierre-Richard Agenor's pioneering paintings on built-in Macroeconomics types for Poverty research (IMMPA) is cataloged for the 1st time during this must-read volume.A classification of dynamic computable normal equilibrium versions, IMMPA versions are designed to research the effect of adjustment regulations on unemployment and poverty within the constructing global. together with either papers initially circulated in the course of the global financial institution, in addition to new fabric that areas this significant paintings in its better context, Adjustment rules, Poverty, and Unemployment information the historical past and makes use of of those versions to this point, in addition to pointing to destiny advancements for his or her usage.
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Extra resources for Adjustment Policies, Poverty, and Unemployment: The IMMPA Framework
Nelson (1994) argued that in Latin America unions have caused wages to rise above the opportunity cost of labor through a combination of union pressure, minimum wage legislation, and wage policies in the public sector. Other studies have attempted to estimate directly the bargaining strength of organized labor, as reﬂected in the union–nonunion wage differential. Park (1991), for instance, estimated that blue-collar workers in the unionized manufacturing sector in Korea are paid on average only 4 percent more than their counterparts in the nonunionized sector.
5 to 1 percentage point. They attribute this effect to the negative impact of the wage increase on the demand for unskilled labor. In one of the few studies (in addition to Bell (1997)) that uses micro-level data to examine the impact of minimum wages on employment in developing countries, Alatas and Cameron (2003) examined the experience of the Philippines during the period 1990–6. 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.
However, a number of other studies suggest that σ > 1. See, for instance, Hamermesh (1993). 30 An alternative, common speciﬁcation is e = [(wS − )/ ]θ , where θ > 0. 31 The quantity 1 − e can be viewed as measuring leisure, although the supply of hours is assumed ﬁxed. AGENOR: “CHAP01” — 2006/11/9 — 12:35 — PAGE 30 — #23 The Analytics of Segmented Labor Markets 31 employed, or when working elsewhere). The optimal level of effort is determined so that the expected utility derived from working is at least equal to the expected utility of shirking: V (wS , e) ≥ π [ln δ (1 − em )1−δ ] + (1 − π ) ln[wSδ (1 − em )1−δ ].