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The Distributional Impact Of Labour Market Reforms
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Book Synopsis Distributional Implications of Labor Market Reforms: Learning from Spain's Experience by : Ara Stepanyan
Download or read book Distributional Implications of Labor Market Reforms: Learning from Spain's Experience written by Ara Stepanyan and published by International Monetary Fund. This book was released on 2020-02-13 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: Spain’s structural reforms, implemented around 2012, have arguably contributed to a faster and stronger economic recovery. In particular, there is strong evidence that the 2012 labor market reforms increased wage flexibility, which helped the Spanish economy to regain competitiveness and create jobs. But the impact of these labor reforms on income inequality and social inclusion has not been analyzed much. This paper aims to shed light on this issue by employing an econometric decomposition procedure combined with the synthetic control method. The results indicate that the 2012 labor reforms have helped improve employment and income equality outcomes with no substantial impact on the overall risk of poverty. Nevertheless, the reforms appear to have induced a deterioration of average hours worked, in-work poverty, and possibly also of involuntary part-time employment.
Book Synopsis The Distributional Impact of Labour Market Reforms by : Werner Röger
Download or read book The Distributional Impact of Labour Market Reforms written by Werner Röger and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies the effects of labour market reforms on the functional distribution of income in a DSGE model (Roeger et al., 2008) with skill differentiation, in which households supply three types of labour: low-, medium- and high-skilled. The households receive income from labour, tangible capital, intangible capital, financial wealth and transfers. We trace how structural reforms in the labour market affect these different types of income. The quantification of labour market reforms is based on changes in structural indicators that significantly reduce the gap of the EU average income towards the best-performing EU countries. We find a general trade-off between an increase in employment for a particular group and the income of the average group member relative to income per capita. Reforms that increase employment of lowand medium-skilled workers imply a trade-off between employment and wages in the low- and medium-skilled group, due to the increase in the skill-specific supply of labour. Capital owners generally benefit from labour market reforms, with an increasing share in total income. This can be attributed to limited entry into the final goods production sector, underlining the importance of product market reforms in addition to labour market reforms.
Book Synopsis A Model-based Assessment of the Distributional Impact of Structural Reforms by :
Download or read book A Model-based Assessment of the Distributional Impact of Structural Reforms written by and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies the effects of structural reforms on the functional distribution of income in EU Member States. To study this mechanism we use a DSGE model (Roeger et al. 2008) with households supplying three types of labour, low-, medium- and high-skilled. We assume that households receive income from labour, tangible capital, intangible capital, financial wealth and transfers and we trace how structural reforms affect these types of incomes. The quantification of structural reforms is based on changes in structural indicators that can significantly close the gap of a country's average income towards the best performing countries in the EU. We find a general trade-off between an increase in employment of a particular group and the income of the average group member relative to income per capita. In general, reforms which aim at increasing employment of low skilled workers are associated with a fall in wages relative to income per capita. Capital owners generally benefit from labour market reforms, with an increasing share in total income, due to limited entry into the final goods production sector. This suggests that labour market re-forms may lead to suboptimal distributional effects if there are rigidities in goods markets present, a finding which confirms the importance of ensuring that such reforms are accompanied or preceded by product market reforms.
Book Synopsis Explaining Distributional Effects of Labor Market Reforms by : Reto Bürgisser
Download or read book Explaining Distributional Effects of Labor Market Reforms written by Reto Bürgisser and published by . This book was released on 2013 with total page 101 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Labor Market Distortions, Rural-urban Inequality, and the Opening of People's Republic of China's Economy by : Thomas Warren Hertel
Download or read book Labor Market Distortions, Rural-urban Inequality, and the Opening of People's Republic of China's Economy written by Thomas Warren Hertel and published by World Bank Publications. This book was released on 2004 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: The authors find that reform of the Hukou system has the most significant impact on aggregate economic activity, as well as income distribution. Whereas the land market reform primarily benefits the agricultural households, this reform's primary beneficiaries are the rural households currently sending temporary migrants to the city. By reducing the implicit tax on temporary migrants, Hukou reform boosts their welfare and contributes to increased rural-urban migration. The combined effect of both factor market reforms is to reduce the urban-rural income ratio dramatically, from 2.59 in 2007 under the authors' baseline scenario to 2.27. When viewed as a combined policy package, along with WTO accession, rather than increasing inequality in China, the combined impact of product and factor market reforms significantly reduces rural-urban income inequality. This is an important outcome in an economy currently experiencing historic levels of rural-urban inequality"--Abstract.
Book Synopsis Short-Term Distributional Effects of Structural Reforms by : Annabelle Mourougane
Download or read book Short-Term Distributional Effects of Structural Reforms written by Annabelle Mourougane and published by . This book was released on 2008 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the short-term distributional effects of a number of tax and labour market reforms in the euro area, drawing on simulations using a micro-founded dynamic general equilibrium model. A heterogeneous household sector with two groups of consumers is considered. The first group maximises intertemporal utility over an infinite horizon in the presence of habit persistence. The second group is liquidity constrained and has no access to financial markets for intertemporal income transfers. It thus spends its disposable income entirely on current consumption. Although the examined reforms are estimated to boost aggregate consumption and output immediately after implementation, they have sizeable distributional effects. In particular, liquidity-constrained households may incur transitional losses after a cut in the benefit replacement ratio. Lowering employment and/or price adjustment costs could markedly reduce these short-term costs. A suitable compensation scheme could also reduce the uneven distribution of transitional losses, but at the expense of lower aggregate gains in the long run.
Book Synopsis Analyzing the Distributional Impact of Reforms by : Aline Coudouel
Download or read book Analyzing the Distributional Impact of Reforms written by Aline Coudouel and published by . This book was released on 2005 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Poverty and Distributional Impacts of Carbon Pricing: Channels and Policy Implications by : Baoping Shang
Download or read book The Poverty and Distributional Impacts of Carbon Pricing: Channels and Policy Implications written by Baoping Shang and published by International Monetary Fund. This book was released on 2021-06-25 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: Addressing the poverty and distributional impacts of carbon pricing reforms is critical for the success of ambitious actions in the fight against climate change. This paper uses a simple framework to systematically review the channels through which carbon pricing can potentially affect poverty and inequality. It finds that the channels differ in important ways along several dimensions. The paper also identifies several key gaps in the current literature and discusses some considerations on how policy designs could take into account the attributes of the channels in mitigating the impacts of carbon pricing reforms on households.
Book Synopsis Analyzing the Distributional Impact of Reforms, 2 by : Aline Coudouel
Download or read book Analyzing the Distributional Impact of Reforms, 2 written by Aline Coudouel and published by World Bank Publications. This book was released on 2005 with total page 470 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The analysis of the distributional impact of policy reforms on the well-being or welfare of different stakeholder groups, particularly on th e poor and vulnerable, has an important role in the elaboration and implementation of poverty reduction strategies in developing countries. In recent years this type of work has been labeled as Poverty and Social Impact Analysis (PSIA) and is increasingly implemented to promote evidence-based policy choices and foster debate on policy reform options. While information is available on the general approach, techniques, and tools for distributional analysis, each sector displays a series of specific characteristics. These have implications for the analysis of distributional impacts, including the types of impacts and transmission channels that warrant particular attention, the tools and techniques most appropriate, the data source typically utilized, and the range of political economy factors most likely to affect the reform process. This volume provides an overview of the specific issues arising in the analysis of the distributional impacts of policy and institutional reforms in selected sectors. Each chapter offers guidance on the selection of tools and techniques most adapted to the reforms under scrutiny, and offers examples of applications of these approaches. This is a companion to the first volume, which offers guidance on trade, monetary and exchange rate policy, utility provision, agricultural markets, land policy, and education."
Book Synopsis Labor Market Reforms and Earnings Dynamics: the Italian Case by : International Monetary Fund
Download or read book Labor Market Reforms and Earnings Dynamics: the Italian Case written by International Monetary Fund and published by International Monetary Fund. This book was released on 2021-05-20 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper summarizes statistics on the key aspects of the distribution of earnings levels and earnings changes using administrative (social security) data from Italy between 1985 and 2016. During the time covered by our data, earnings inequality and earnings volatility increased, while earnings mobility did not change significantly. We connect these trends with some salient facts about the Italian labor market, in particular the labor market reforms of the 1990s and 2000s which induced a substantial rise in fixedterm and part-time employment. The rise in parttime work explains much of the rise in earnings inequality, while the rise in fixed-term contracts explains much of the rise in volatility. Both these trends affect the earnings distribution through hours worked: part-time jobs reduce hours worked within a week, while fixed-term contracts reduce the number of weeks worked during the year as well as increase their volatility. We find weak evidence that fixed-term contracts represent a "stepping-stone" to permanent employment. Finally, we offer suggestive evidence that the labor market reforms contributed to the slowdown in labor productivity in Italy by delaying human capital accumulation (in the form of general and firm-specific experience) of recent cohorts.
Book Synopsis Economic Reforms, Growth and Inequality in Latin America by : Gustavo Indart
Download or read book Economic Reforms, Growth and Inequality in Latin America written by Gustavo Indart and published by Routledge. This book was released on 2019-06-04 with total page 341 pages. Available in PDF, EPUB and Kindle. Book excerpt: Originally published in 2004. Growth, income distribution, and labour markets are issues of pivotal importance in the Latin American context. Examining unique theoretical issues and the empirical evidence, this book provides a critical analysis of the key elements of income distribution determinants, labour market functions, trade policies, and their interrelations. As the advance of globalization becomes seemingly unstoppable, this book provides an important reappraisal of the impact of this new phenomenon, and in particular, the pernicious impact it may have on income growth and distribution. The key objective of the volume is to integrate more fully the analysis of trade and labour market economists, in order to better understand the labour market and income distribution implications of globalization and international integration. Forty years after the early calls to appropriately investigate the micro foundations of macroeconomics, the separation of the two at the policy level is more damaging than ever before - particularly for developing regions; this volume therefore makes an important contribution at the theoretical and policy levels by bringing together macroeconomic and microeconomic analyses.
Book Synopsis Policy Complementarities by : Mr.David T. Coe
Download or read book Policy Complementarities written by Mr.David T. Coe and published by International Monetary Fund. This book was released on 1996-08-01 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper argues that an important group of labor market policies are complementary in the sense that the effect of each policy is greater when implemented in conjunction with the other policies than in isolation. This may explain why the diverse, piecemeal labor market reforms in many European countries in recent years have had so little success in reducing unemployment. What is required instead is deeper labor market reforms across a broader range of complementary policies and institutions. To be politically feasible, these reforms must be combined with measures to address distributional issues.
Book Synopsis The Program for Better Jobs and Income by : George Sternlieb
Download or read book The Program for Better Jobs and Income written by George Sternlieb and published by . This book was released on 1978 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Poverty, Income Distribution and Well-Being in Asia During the Transition by : Lu Aiguo
Download or read book Poverty, Income Distribution and Well-Being in Asia During the Transition written by Lu Aiguo and published by Springer. This book was released on 2002-05-22 with total page 307 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Asian road to the market has generally been seen as a model of success and the object of widespread admiration. This volume evaluates the actual experience and debunks some of the most widespread myths. It does so by identifying the link between alternative transition models, public policies and household responses on the one hand, and key welfare changes on the other. Even in countries experiencing sustained growth, there have been unmistakable signs of deep social strain.
Book Synopsis Structural Reforms and Income Distribution by : Rasmus Wiese
Download or read book Structural Reforms and Income Distribution written by Rasmus Wiese and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the impact of labour market and product market reforms on income inequality for 25 OECD countries, using the local projections approach and updates of the reform indicators put together by Duval et al. (2018) until 2020. Our results suggest that both types of (endogenized) reforms cause more income inequality. Consistent with this finding is that counter-reforms lead to less income inequality. However, the inequality-raising effects of reforms occur especially in countries that have below median levels of social spending; in countries where social spending is above the sample median, the effect of reform is mostly statistically insignificant.
Book Synopsis The Distributional Effects of Labour Market Deregulation by : Marco Amendola
Download or read book The Distributional Effects of Labour Market Deregulation written by Marco Amendola and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the 1980s, most of the advanced economies have massively 'flexibilized' their labour markets by reducing protection against layoffs or introducing temporary and flexible contractual forms. Meanwhile, a stylized fact of economic theory has come undone, namely the stability of the wage share of income. Indeed, despite some criticism of possible measurement errors, there is a substantial consensus on the decreasing trends in the labour share. In this contribution, we empirically evaluate whether the two phenomena are causally linked, by investigating the impact of changes in the regulation of fixed-term contracts on functional distribution. Using Jorda's local projection method in a panel of 18 advanced countries in the period 1985-2019, we find that reforms that deregulate fixed-term contracts consistently reduce the wage share.
Book Synopsis Labor Market Distortions, Rural-Urban Inequality, and the Opening of China's Economy by : Thomas W. Hertel
Download or read book Labor Market Distortions, Rural-Urban Inequality, and the Opening of China's Economy written by Thomas W. Hertel and published by . This book was released on 2016 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: Hertel and Zhai evaluate the impact of two key factor market distortions in China on rural-urban inequality and income distribution. They find that creation of a fully functioning land market has a significant impact on rural-urban inequality. This reform permits agricultural households to focus solely on the differential between farm and nonfarm returns to labor in determining whether to work on or off-farm. This gives rise to an additional 10 million people moving out of agriculture by 2007 and lends a significant boost to the incomes of those remaining in agriculture. This off-farm migration also contributes to a significant rise in rural-urban migration, thereby lowering urban wages, particularly for unskilled workers. As a consequence, rural-urban inequality declines significantly.The authors find that reform of the Hukou system has the most significant impact on aggregate economic activity, as well as income distribution. Whereas the land market reform primarily benefits the agricultural households, this reform's primary beneficiaries are the rural households currently sending temporary migrants to the city. By reducing the implicit tax on temporary migrants, Hukou reform boosts their welfare and contributes to increased rural-urban migration. The combined effect of both factor market reforms is to reduce the urban-rural income ratio dramatically, from 2.59 in 2007 under the authors' baseline scenario to 2.27.When viewed as a combined policy package, along with WTO accession, rather than increasing inequality in China, the combined impact of product and factor market reforms significantly reduces rural-urban income inequality. This is an important outcome in an economy currently experiencing historic levels of rural-urban inequality.This paper - a product of the Trade Team, Development Research Group - is part of a larger effort in the group to evaluate the poverty impacts of trade policy reforms.
