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We analyze labor market models where the law of one price does not hold-that is, models with equilibrium wage dispersion. We begin by assuming workers are ex ante heterogeneous, and highlight a flaw with this approach: if search is costly, the market shuts down. We then assume workers are...
Persistent link: https://www.econbiz.de/10014400958
Using Chilean data, we document that for resource-rich small open economies the effects of terms of trade shocks on the wage gap (between skilled and unskilled workers) depend on factor intensities in the non-tradable sector, following the model in Galiani, Heymann, and Magud (2010). For a...
Persistent link: https://www.econbiz.de/10014403224
In the aftermath of the revolution of 2011, Libya faces the complex task of rebuilding its economy, infrastructure, and institutions, and responding to the demands of the population, especially for improved governance. The conflict that accompanied the revolution had a severe impact on the...
Persistent link: https://www.econbiz.de/10014396143
Search models with posting and match-specific heterogeneity generate wage dispersion. Given K values for the match-specific variable, it is known that there are K reservation wages that could be posted, but generically never more than two actually are posted in equilibrium. What is unknown is...
Persistent link: https://www.econbiz.de/10014402407
This paper reviews the 2004 Semiannual IMF Staff Report Under Intensified Surveillance for Nigeria. Overall economic performance in the first half of 2004 was commendable. The implementation of sound macroeconomic policies, underpinned by a conservative reference oil price and savings of the oil...
Persistent link: https://www.econbiz.de/10005825050
This paper analyzes progress on the Poverty Reduction Strategy Paper—Country Development Strategy (PRSP–CDS) in the Kyrgyz Republic for 2007–10. The CDS is the most important concept paper that outlines midterm vision of the Kyrgyz Republic. The paper also discusses that...
Persistent link: https://www.econbiz.de/10011242472
This paper discusses key findings of the First Annual Report (2008/09) on the Afghanistan National Development Strategy (ANDS). The economic and security situation was particularly challenging during the first year of ANDS implementation (1387 or 2008/09) owing to rapid increases in food and...
Persistent link: https://www.econbiz.de/10011245278
Persistent link: https://www.econbiz.de/10000663179
This paper discusses the 59th issue of the By-Laws and Rules and Regulations of the IMF. The By-Laws are adopted under the authority of, and are intended to be complementary to, the Articles of Agreement of the IMF. The Rules and Regulations supplement the Articles of Agreement and the By-Laws...
Persistent link: https://www.econbiz.de/10014405226
This paper was originally prepared for a seminar of the Executive Board of the Fund. In the seminar, Executive Directors expressed a broad range of views with regard to both the adequacy of the Fund's approach to financial programming and the validity of the analysis presented in this paper
Persistent link: https://www.econbiz.de/10014405907