Download e-book for kindle: 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 classification of dynamic computable common equilibrium versions, IMMPA types are designed to research the impression of adjustment guidelines 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 crucial paintings in its higher context, Adjustment guidelines, Poverty, and Unemployment information the heritage and makes use of of those types so far, in addition to pointing to destiny advancements for his or her usage.

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Extra info for Adjustment Policies, Poverty, and Unemployment: The IMMPA Framework

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272). AGENOR: “CHAP01” — 2006/11/9 — 12:35 — PAGE 32 — #25 The Analytics of Segmented Labor Markets 33 so that 1 < 1. 1 + χ /wS This condition shows that the (equilibrium) effort–wage elasticity, ηe/wS is now lower than unity (with the standard case corresponding to χ = 0). It can also be shown that dwS /d χ > 0 and dS/d χ < 0, so that an increase in fixed employment costs results in a rise in the wage and a reduction in employment. By reducing employment, the firm can counteract an increase in total labor costs stemming from higher employment costs.

1 + χ /wS This condition shows that the (equilibrium) effort–wage elasticity, ηe/wS is now lower than unity (with the standard case corresponding to χ = 0). It can also be shown that dwS /d χ > 0 and dS/d χ < 0, so that an increase in fixed employment costs results in a rise in the wage and a reduction in employment. By reducing employment, the firm can counteract an increase in total labor costs stemming from higher employment costs. As a result, output falls; to counteract this effect, the firm increases the wage in order to raise the level of effort, which tends to increase output.

Because sectoral labor supply is completely inelastic and wages cannot adjust in the formal sector, unemployment will typically emerge there. The situation depicted in panel C indicates 21 There is also evidence, however, of a relatively high degree of mobility between the informal and formal sectors; see, for instance, Funkhouser (1997) for El Salvador and Inter-American Development Bank (2003) for some Latin American countries. 22 The source of wage rigidity in the formal sector is left unspecified at this stage.

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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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