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Payroll Taxes, Social Insurance and Business Cycles

Burda, Michael C; Weder, Mark - C.E.P.R. Discussion Papers - 2010

Payroll taxes represent a major distortionary influence of governments on labor markets. This paper examines the role of payroll taxation and the social safety net for cyclical fluctuations in a nonmonetary economy with labor market frictions and unemployment insurance, when the latter is only...

Persistent link: https://www.econbiz.de/10008611008

The Output Gap, the Labor Wedge, and the Dynamic Behavior of Hours

Sala, Luca; Söderström, Ulf; Trigari, Antonella - C.E.P.R. Discussion Papers - 2010

We use a standard quantitative business cycle model with nominal price and wage rigidities to estimate two measures of economic inefficiency in recent U.S. data: the output gap---the gap between the actual and efficient levels of output---and the labor wedge---the wedge between households'...

Persistent link: https://www.econbiz.de/10008642884

Continued Existence of Cows Disproves Central Tenets of Capitalism?

Anagol, Santosh; Etang, Alvin; Karlan, Dean S. - C.E.P.R. Discussion Papers - 2013

We examine the returns from owning cows and buffaloes in rural India. We estimate that when valuing labor at market wages, households earn large, negative average returns from holding cows and buffaloes, at negative 64% and negative 39% respectively. This puzzle is mostly explained if we value...

Persistent link: https://www.econbiz.de/10011083843

Patterns of convergence and Divergence in the Euro Area

Estrada García, Ángel; Galí, Jordi; Lopez-Salido, David - C.E.P.R. Discussion Papers - 2013

We study the extent of macroeconomic convergence/divergence among euro area countries. Our analysis focuses on four variables (unemployment, inflation, relative prices and the current account), and seeks to uncover the role played by monetary union as a convergence factor by using non-euro...

Persistent link: https://www.econbiz.de/10011083904

Social Security, Unemployment Risk and Efficient Bargaining between Unions and Firms

Reichlin, Pietro - C.E.P.R. Discussion Papers - 2013

We construct an overlapping generations model with unemployment risk where wages, employment and severance payments are set through efficient bargaining between risk averse Unions and risk neutral firms. Assuming that a First Best cannot be achieved due to workers' shirking incentives, we...

Persistent link: https://www.econbiz.de/10011084577

Labor Markets in Regional Trade Agreements: What Do We Know?

de Melo, Jaime; Regolo, Julie - C.E.P.R. Discussion Papers - 2013

Globalization has failed to relax barriers to the movement of labor, especially unskilled workers. So have North-South Regional Trade Agreements (RTAs), while South-South RTAs have failed to implement good intentions. A literature review of the labor effects of RTAs underscores context...

Persistent link: https://www.econbiz.de/10011083523

What Do We Know about Microfinance at Macro Glance?

Alimukhamedova, Nargiza; Hanousek, Jan - C.E.P.R. Discussion Papers - 2015

The majority of microfinance impact studies focus on finding their effect on a specific group of beneficiaries, in …-term evidence of a significant ability of microfinance to affect broader economies. Moreover, the impact and dynamics differ … substantially by macro-institutional environment; the microfinance effect is more pronounced in weaker environments. …

Persistent link: https://www.econbiz.de/10011201355

Market Structure and Borrower Welfare in Microfinance

de Quidt, Jonathan; Fetzer, Thiemo; Ghatak, Maitreesh - C.E.P.R. Discussion Papers - 2012

Motivated by recent controversies surrounding the role of commercial lenders in microfinance, we analyze borrower …

Persistent link: https://www.econbiz.de/10011083818

Improving Access to Banking: Evidence from Kenya

Allen, Franklin; Carletti, Elena; Cull, Robert; Qian, Jun; … - C.E.P.R. Discussion Papers - 2014

impact of Equity Bank—a leading private commercial bank focusing on microfinance—on the access to banking in Kenya. Unlike …

Persistent link: https://www.econbiz.de/10011084293

The miracle of microfinance? Evidence from a randomized evaluation

Banerjee, Abhijit; Duflo, Esther; Glennerster, Rachel; … - C.E.P.R. Discussion Papers - 2013

of a particular microfinance institution (Spandana) while the remainder were not, although other MFIs were free to enter …. We found no changes in any of the development outcomes that are often believed to be affected by microfinance, including …

Persistent link: https://www.econbiz.de/10011084414