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Labor Market Dynamics, Informality and Regulations in Latin America
by Antonio David, Samuel Pienknagura, and Jorge Roldos

Series:Working Paper No. 20/19
ISBN 9781513523750
Code: #WPIEA2020019

Publication year: 2020

Cdn: $27.00; US: $25.00
Paperback
Language: English
27 pages
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Labor markets in Latin America and the Caribbean (LAC) are characterized by high levels of informality and relatively rigid regulation. This paper shows that these two features are related and together make the speed of adjustment of employment to shocks slower, especially when regulations are tightly enforced. Evidence suggests that strict labor market regulations also have an adverse effect on medium-term growth. While both regulations on prices (minimum wages) and quantities (employment protection) decrease the speed of adjustment to shocks, they appear to be binding in different phases of the cycle—the former affects mostly the (net) job creation margin and the latter the (net) job destruction margin. The results also highlight possible interactions between labor market regulations and the effectiveness of macro-stabilization tools—including exchange rate depreciation.
Labor Market Dynamics, Informality and Regulations in Latin America
Cdn: $27.00; US: $25.00
International Monetary Fund (IMF) BookID: 126965 Added: 2020.2.9