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Labor Market Segmentation in a Two-Sector Model of an Open Economy

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  • Dimitri G. Demekas

    (International Monetary Fund)

Abstract

The effects of labor market segmentation in a two-sector open economy model are examined. The model demonstrates how the structure of the labor market affects the real exchange rate, and is then used to examine the effects of two common labor market policies: increasing the degree of primary market coverage, and implementing wage restraint in the primary market. Increasing coverage increases unemployment and leads to a real appreciation. Real wage restraint, however, reduces unemployment and has ambiguous but probably small effects on the real exchange rate.

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Bibliographic Info

Article provided by Palgrave Macmillan in its journal Staff Papers - International Monetary Fund.

Volume (Year): 37 (1990)
Issue (Month): 4 (December)
Pages: 849-864

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Handle: RePEc:pal:imfstp:v:37:y:1990:i:4:p:849-864

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Cited by:
  1. Habib Ahmed & Stephen M. Miller, 1996. "Monetary and Exchange Rate Policy in Multisectorial Economies," Working papers, University of Connecticut, Department of Economics 1996-11, University of Connecticut, Department of Economics.
  2. Blinova, Tatiana & Rusanovsky, Victor, 2002. "Economic policy and unemployment in Russia´s regions," ERSA conference papers ersa02p234, European Regional Science Association.
  3. Pierre-Richard Agenor & Joshua Aizenman, 1994. "Macroeconomic Adjustment with Segmented Labor Markets," NBER Working Papers 4769, National Bureau of Economic Research, Inc.
  4. Amélie Barbier-Gauchard & Francesco De Palma & Giuseppe Diana, 2012. "Currency devaluation with dual labor market : Which perspectives for the Euro Zone ?," Working Papers of BETA 2012-04, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
  5. Agenor, Pierre-Richard & Santaella, Julio A., 1998. "Efficiency wages, disinflation and labor mobility," Journal of Economic Dynamics and Control, Elsevier, Elsevier, vol. 22(2), pages 267-291, February.
  6. Blinova Tatiana & Rusanovsky Victor, 2002. "Economic Policy, Industrial Structure, and Unemployment in Russia's Regions," EERC Working Paper Series 01-06e, EERC Research Network, Russia and CIS.
  7. Blinova, Tatiana V., 2002. "Rural Development and Unemployment Reduction," 2002 International Congress, August 28-31, 2002, Zaragoza, Spain, European Association of Agricultural Economists 24821, European Association of Agricultural Economists.
  8. Tatiana Blinova & Victor Rusanovsky, 2003. "Regional strategies and Unemployment Risks in Russia’s Regional Labor markets (?)," ERSA conference papers ersa03p454, European Regional Science Association.
  9. Kalulumia, Pene & Nyankiye, Francine, 2000. "Labor Adjustment Costs, Macroeconomic Shocks and Real Business Cycles in a Small Open Economy," Journal of Macroeconomics, Elsevier, Elsevier, vol. 22(4), pages 671-694, October.

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