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Impact of the 2008–2009 Twin Economic Crises on the Philippine Labor Market

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  • van der Meulen Rodgers, Yana
  • Menon, Nidhiya
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    Abstract

    This study examines how the 2008–2009 surges in international food and fuel prices and the coinciding global financial crisis impacted the Philippine labor market. Regression estimates using repeated quarterly waves of the Labor Force Survey indicate small declines in employment probabilities, while real wages fell more dramatically: about 6% during the price surges and 3–4% during the financial crisis. Men experienced slightly larger wage declines and women marginally greater employment cuts. Workers across education and age groups experienced wage drops, especially less educated men, women with high school degrees, and older workers.

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    Bibliographic Info

    Article provided by Elsevier in its journal World Development.

    Volume (Year): 40 (2012)
    Issue (Month): 11 ()
    Pages: 2318-2328

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    Handle: RePEc:eee:wdevel:v:40:y:2012:i:11:p:2318-2328

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    Web page: http://www.elsevier.com/locate/worlddev

    Related research

    Keywords: food and fuel prices; financial crisis; employment; wages; gender; Philippines;

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    1. Koenker, Roger W & Bassett, Gilbert, Jr, 1978. "Regression Quantiles," Econometrica, Econometric Society, vol. 46(1), pages 33-50, January.
    2. Gunseli Berik & Yana van der Meulen Rodgers & Stephanie Seguino, 2009. "Feminist Economics of Inequality, Development, and Growth," Feminist Economics, Taylor & Francis Journals, vol. 15(3), pages 1-33.
    3. Alan S. Blinder, 1973. "Wage Discrimination: Reduced Form and Structural Estimates," Journal of Human Resources, University of Wisconsin Press, vol. 8(4), pages 436-455.
    4. Manasan, Rosario G., 2009. "Reforming Social Protection Policy: Responding to the Global Financial Crisis and Beyond," Discussion Papers DP 2009-22, Philippine Institute for Development Studies.
    5. Moshe Buchinsky, 1998. "Recent Advances in Quantile Regression Models: A Practical Guideline for Empirical Research," Journal of Human Resources, University of Wisconsin Press, vol. 33(1), pages 88-126.
    6. Ravallion, Martin, 1990. "Rural Welfare Effects of Food Price Changes under Induced Wage Responses: Theory and Evidence for Bangladesh," Oxford Economic Papers, Oxford University Press, vol. 42(3), pages 574-85, July.
    7. Habib, Bilal & Narayan, Ambar & Olivieri, Sergio & Sanchez-Paramo, Carolina, 2010. "Assessing poverty and distributional impacts of the global crisis in the Philippines : a microsimulation approach," Policy Research Working Paper Series 5286, The World Bank.
    8. Lim, Joseph Y., 2000. "The Effects of the East Asian Crisis on the Employment of Women and Men: The Philippine Case," World Development, Elsevier, vol. 28(7), pages 1285-1306, July.
    9. H. Son, Hyun & A. San Andres, Emmanuel, 2009. "How Has Asia Fared in the Global Crisis? A Tale of Three Countries: Republic of Korea, Philippines, and Thailand," ADB Economics Working Paper Series 174, Asian Development Bank.
    10. Sobrevinas, Alellie B. & de Jesus, Jeremy & Reyes, Celia M., 2010. "The Impact of the Global Financial Crisis on Poverty in the Philippines," Discussion Papers DP 2010-04, Philippine Institute for Development Studies.
    11. Celia Reyes & Alellie Sobreviñas & Jeremy de Jesus, 2010. "The Impact of the Global Financial Crisis on Poverty in the Philippines," Finance Working Papers 22808, East Asian Bureau of Economic Research.
    12. Yap, Josef T. & Cuenca, Janet S. & Reyes, Celia M., 2009. "Impact of the Global Financial and Economic Crisis on the Philippines," Discussion Papers DP 2009-30, Philippine Institute for Development Studies.
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