Back Matter
  • 1 https://isni.org/isni/0000000404811396, International Monetary Fund
  • | 2 https://isni.org/isni/0000000404811396, International Monetary Fund
  • | 3 https://isni.org/isni/0000000404811396, International Monetary Fund
  • | 4 https://isni.org/isni/0000000404811396, International Monetary Fund
  • | 5 https://isni.org/isni/0000000404811396, International Monetary Fund

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1

The authors thank Alberto Behar, Justin Boland, Alexis Meyer Cirkel, Kevin Finch, Nicole Laframboise, Xavier Maret, Jan Kees Martijn, Wendell Samuel, and Participants in WHD Seminar Series and High-level Caribbean Conference in the Bahamas, September 2013, for helpful comments and suggestions.

2

The study focuses on English-speaking Caribbean countries.

3

Growth per capita can rise because of technology and higher employment rates (Cahuc and Zylberberg (2004)).

4

For alternative approaches to estimate the employment-output elasticity, see, e.g., Islam and Nazara (2000), Kapsos (2005), Center for Mediterranean Integration (2012), and World Bank (2011, 2012).

5

The system of equations has been estimated with a restriction on the coefficients β=δ*ϒ, using the delta methods.

6

The theoretical channel is articulated in Kandil and Mirzaie (2002).

7

By construction, the real effective exchange rate is a weighted average of real bilateral exchange rates relative to currencies of major trading partners. Data for estimation are based on WEO submissions by various Desks.

8

The ECM is estimated in response to stationarity test results that indicate that the variables are I(1). Upon first differencing, variables become stationary. The error correction charts are available upon request.

9

For more direct evidence of crowding out of private sector employment by public sector employment, see Behar and Mok (2013).

10

In contrast, growth in tourism is not well aligned with employment growth, as evident by the negative and significant coefficients. While data are not available to attest to the informal nature of jobs created in response to cyclicality in tourists’ arrival, the evidence is clear regarding formal jobs created in response to a boost in confidence surrounding episodes of high growth in major trading partners.

11

For more details on data sources, see Downes (2006).

Labor Market Issues in the Caribbean: Scope to Mobilize Employment Growth
Author: Ms. Magda E. Kandil, Mrs. Genevieve M Lindow, Mr. Mario Mansilla, Mr. Joel Chiedu Okwuokei, Jochen M. Schmittmann, Qiaoe Chen, Xin Li, Marika Santoro, and Solomon Stavis