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Western Hemisphere > Argentina

You are looking at 1 - 5 of 5 items for :

  • Type: Journal Issue x
  • Wages, Compensation, and Labor Costs: Public Policy x
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Cover Staff Discussion Notes
Designing Labor Market Institutions in Emerging and Developing Economies: Evidence and Policy Options
Mr. Romain A Duval
and
Mr. Prakash Loungani
This paper discusses theoretical aspects and evidences related to designing labor market institutions in emerging market and developing economies. This note reviews the state of theory and evidence on the design of labor market institutions in a developing economy context and then reviews its consistency with actual labor market advice in a selected set of emerging and developing economies. The focus is mainly on three broad sets of institutions that matter for both workers’ protection and labor market efficiency: employment protection, unemployment insurance and social assistance, minimum wages and collective bargaining. Text mining techniques are used to identify IMF recommendations in these areas in Article IV Reports for 30 emerging and frontier economies over 2005–2016. This note has provided a critical review of the literature on the design of labor market institutions in emerging and developing market economies, and benchmarked the advice featured in IMF recommendations for 30 emerging market and frontier economies against the tentative conclusions from the literature.
Keywords:
SDN; collective bargaining; unemployment insurance; severance pay; developing economy; UI system; Labor Market Institutions; Employment Protection; Unemployment Benefits; Social Assistance; Cash Transfers; Minimum Wage; monopsony power; firm level; income group; Emerging and frontier financial markets; Minimum wages; Labor markets; Africa; risk pooling; wage inequality
Cover IMF Staff Papers
IMF Staff papers, Volume 45 No. 2
International Monetary Fund. Research Dept.
This paper analyzes contagion and volatility with imperfect credit markets. The paper interprets contagion effects as an increase in the volatility of shocks impinging on the economy. The implications of this approach are analyzed in a model in which domestic banks borrow at a premium on world capital markets, and domestic producers borrow at a premium from domestic banks. Financial spreads depend on a markup that compensates lenders, in particular, for the expected cost of contract enforcement. Higher volatility increases financial spreads and the producers’ cost of capital.
Keywords:
SP; paper number; EU country; monetary policy; priority mail delivery; Visa credit cards; dollar wage; Public sector; Unemployment; Wages; Minimum wages; Job destruction; Baltics; Eastern Europe; Central and Eastern Europe; Global; Africa
Cover IMF Working Papers
Wage Indexation and the Cost of Disinflation
Mr. Esteban Jadresic
While a standard academic presumption has been that wage indexation reduces the cost of disinflation, policymakers generally contend that wage indexing makes disinflation more difficult. To shed light on these views, this paper reexamines the effects of wage indexing on the output loss caused by money-based stabilization. It finds that the cost of disinflation with indexed wage contracts tends to be smaller than that with contracts that specify preset time-varying wages, but larger than that with contracts that specify fixed wages. Thus the academic and policymakers views can be both appropriate depending on the standard of reference.
Keywords:
WP; inflation rate; wage contract; cost of living; indexed economy; disinflation policy; cost of disinflation; indexation rule; indexed contract; Wages; Disinflation; Inflation; Wage indexation; Wage adjustments; Eastern Europe
Cover IMF Staff Papers
IMF Staff papers: Volume 43 No. 2
International Monetary Fund. Research Dept.
This paper examines the role of the labor market in the transmission process of adjustment policies in developing countries. It begins by reviewing the recent evidence regarding the functioning of these markets. It then studies the implications of wage inertia, nominal contracts, labor market segmentation, and impediments to labor mobility for stabilization policies. The effect of labor market reforms on the flexibility of the labor market and the evidence regarding the wage and employment effects of trade reform are discussed next. The last part of the paper identifies a variety of issues that may require further investigation.
Keywords:
SP; paper number; Visa credit cards; priority mail delivery; series name; government wage cut; PPP holding; transition economy; Wages; Labor markets; Employment; Real wages; Minimum wages; Sub-Saharan Africa; Africa; Middle East; Western Hemisphere; Asia and Pacific; Baltics; auction format; Caribbean
Cover IMF Staff Papers
IMF Staff papers: Volume 40 No. 2
International Monetary Fund. Research Dept.
The relationship between the degree of wage indexation chosen by private agents and the degree of public debt indexation chosen by the government is examined. It is shown that the government is likely to increase public debt indexation in response to an increase in wage indexation. By contrast, higher public debt indexation has an ambiguous effect on wage indexation. In equilibrium, wage and public debt indexation may be positively or negatively related. This relationship is analyzed in situations where the policymakers can precommit to policies and in those they cannot.
Keywords:
SP; priority mail delivery; wage indexation; exchange rate regime; IMF paper; debt indexation; Exchange rate arrangements; Wage indexation; Exchange rates; Inflation; Currency boards; Global; Baltics; Sub-Saharan Africa; Africa; Asia and Pacific; Eastern Europe; home authority