a column for VOX: CEPR’s Policy Portal by Martin Ravallion and Shaohua Chen
Abstract
Past studies have measured poverty in either relative terms (mostly in the developed countries) or absolute terms (the developing world). This column presents a new unified approach to global poverty that assumes that people care about both their own income and their income relative to others in their country of residence. The study finds that global poverty has declined more in absolute terms than in relative terms. The vast bulk of the relatively poor now live in the developing world. The advanced countries have seen little progress against poverty, unlike the developing world.
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Showing posts with label developing_economies. Show all posts
Showing posts with label developing_economies. Show all posts
Sunday, 12 November 2017
Monday, 21 November 2016
Drivers and effects of labour market reforms: Evidence from a novel policy compendium
an article by Dragos Adascalitei and Clemente Pignatti Morano (Research Department, International Labour Organization) published in IZA Journal of Labor Policy Volume 5 Article 15 (2016)
Abstract
The paper analyses the determinants and short-term effects of labour market reforms, using information from a novel policy compendium that covers 110 developed and developing economies between 2008 and 2014.
We find that the approval of reforms is positively associated with the unemployment rate, the simultaneous implementation of fiscal consolidation measures and the presence of a fixed exchange rate regime. Differences in the results are explored by looking at the direction of reforms (i.e. increasing or decreasing legislation), temporal horizon (i.e. temporary or permanent measures) and coverage (i.e. complete or two-tier reforms); while also analysing separately reforms’ determinants across domains of labour legislation (e.g. permanent contracts, collective dismissals).
Finally, we find that deregulatory labour market reforms tend to increase the unemployment rate in the short run when they are approved during contractionary periods – while they have a non-significant effect when approved during periods of economic stability or expansion.
JEL Classification: J20, J52, J38, J48, J58, K31
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Abstract
The paper analyses the determinants and short-term effects of labour market reforms, using information from a novel policy compendium that covers 110 developed and developing economies between 2008 and 2014.
We find that the approval of reforms is positively associated with the unemployment rate, the simultaneous implementation of fiscal consolidation measures and the presence of a fixed exchange rate regime. Differences in the results are explored by looking at the direction of reforms (i.e. increasing or decreasing legislation), temporal horizon (i.e. temporary or permanent measures) and coverage (i.e. complete or two-tier reforms); while also analysing separately reforms’ determinants across domains of labour legislation (e.g. permanent contracts, collective dismissals).
Finally, we find that deregulatory labour market reforms tend to increase the unemployment rate in the short run when they are approved during contractionary periods – while they have a non-significant effect when approved during periods of economic stability or expansion.
JEL Classification: J20, J52, J38, J48, J58, K31
Full text (HTML)
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