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The minimum wage puzzle in less developed countries : reconciling theory and evidence

Adam, Christopher S.; Buffie, Edward F. - 2020

We show that a dynamic general equilibrium model with efficiency wages and endogenous capital accumulation in both the formal and (non-agricultural) informal sectors can explain the full range of confounding stylized facts associated with minimum wage laws in less developed countries

Persistent link: https://www.econbiz.de/10012170119

Debt, investment, and growth in developing countries with segmented labor markets

Buffie, Edward F.; Zanna, Luis-Felipe; Adam, Christopher S. - 2020

We introduce a new suite of macroeconomic models that extend and complement the Debt, Investment, and Growth (DIG …'s properties by analyzing the growth, debt, and distributional consequences of big-push public investment programs with different … mixes of investment in human capital and infrastructure. We show that investment in human capital is much more effective …

Persistent link: https://www.econbiz.de/10012252029

Labor market reform options to boost employment in South Africa

Duval, Romain; Ji, Yi; Shibata, Ippei - 2021

Raising South Africa's low employment rate to levels seen in emerging market or advanced economy peers could raise GDP per capita by 50 to 60 percent and reduce income inequality dramatically in the long term. By putting further strain on an already fragile labor market, Covid-19 has raised the...

Persistent link: https://www.econbiz.de/10012612327

Minimum Wages and Firm Employment : Evidence from China

Huang, Yi - 2014

This paper provides the first systematic study of how minimum wage policies in China affect firm employment over the 2000-2007 periods. Using a novel dataset of minimum wage regulations across more than 2,800 counties matched with firm-level data, we investigate both the effect of the minimum...

Persistent link: https://www.econbiz.de/10014411691

Cashing in for growth : corporate cash holdings as an opportunity for investment in Japan

Sher, Galen - 2014

Persistent link: https://www.econbiz.de/10010479433

Commodity Price Volatility and the Sources of Growth

International Monetary Fund - 2012

This paper studies the impact of the level and volatility of the commodity terms of trade on economic growth, as well as on the three main growth channels: total factor productivity, physical capital accumulation, and human capital acquisition. We use the standard system GMM approach as well as...

Persistent link: https://www.econbiz.de/10014396933

Commodity price volatility and the sources of growth

Cavalcanti, Tiago; Mohaddes, Kamiar; Raissi, Mehdi - 2012

Persistent link: https://www.econbiz.de/10009424700

Investment, Capital Accumulation, and Growth : Some Evidence From the Gambia 1964-1998

Beddies, Christian H. - 1999

endogenous growth-type model. The impact of private investment—and thus private capital accumulation—on output is large and … significant. Furthermore, increases in public investment boost output substantially. Finally, the effects associated with human …

Persistent link: https://www.econbiz.de/10014400640

Searching for the Virtues of the European Model

Saint-Paul, Gilles - 1994

The distributional effects of the minimum wage are analyzed in a model where skilled and unskilled labor enter the production function. It is argued that distributional goals are best achieved by letting the labor market clear and achieving redistribution through taxes and transfers

Persistent link: https://www.econbiz.de/10014396078

Can Policies Affect Employment Intensity of Growth? : A Cross-Country Analysis

Furceri, Davide - 2012

The aim of this paper is to provide new estimates of employment-output elasticities and assess the effect of structural and macroeocnomic policies on the employment-intensity of growth. Using an unbalanced panel of 167 countries over the period 1991 - 2009, the results suggest that structural...

Persistent link: https://www.econbiz.de/10014395704