How has the labor market responded to changes in macroeconomic conditions and related government policies? And to what extent has government intervention affected the microeconomic functioning of the labor market. Geographical immobility of workers does not seem to hinder adjustment. Labor is...

En este trabajo se analizan tres tipos de instituciones prevalecientes en los mercados laborales de muchos países, normas sobre salario mínimo, introducción de costos no salariales (prestaciones complementarias) y las políticas de salario y empleo del gobierno. Se sostiene que estos tres son...

The 1990s have witnessed several financial crises, of which the East Asia and Mexico tequila crises are perhaps the most well-known. What impact have these crises had on labor markets, household incomes, and poverty? Total employment fell by much less than production declines and even increased...

The objectives of this paper are : (i) to empirically probe on the validity of the hypothesis that wages are relatively unresponsive to labor market disequlibrium; and (ii) to investigate whether the dramatically diverse rates of unemployment observed across certain Latin American countries obey...

Conventional labor theory argues that wages are determined by the interaction of labor supply and demand. Policy analysis on wage rigidity has emphasized distortions arising from exogenous intervention. One emphasis in adjustment lending has been deregulation of labor markets. Efficiency wage...

The ratio of nonwage labor costs (for social security, pensions, vacation days, severence compensation, and the like) to direct wage costs is proportionately higher in Europe and Latin America than in Asia and Africa - largely because workers there are protected more by regulations. The...

Czechoslovakia (CSFR) faces marked challenges for successfully accomplishing its transition to a market economy. In recent years the economy was characterized by a good deal of internal and external equilibrium, making possible the current market oriented reforms without the complications which...

In the 1970s, Chile underwent profound structural changes in market regulation, public sector policies, and foreign trade. These changes produced notable economic strain and high open unemployment. After the financial crisis of the 1980s the Chilean economy adjusted successfully and resumed...