Labor Market Representation in Quantitative Macroeconomic Models for Developing Countries: An Application to CÃ´te d'Ivoire
AbstractThis paper presents a quantitative macroeconomic model that accounts for key features of the labor market in developing countries. Primarily inspired by CÃ´te d'Ivoire, the model contrasts a formal urban sector, where wages are rigidly fixed and employment is subject to firms' profit-seeking behavior, with urban and rural informal sectors, where wages are flexible and employment is affected by fluctuations in formal sector employment. Dynamic simulations assess the impact on key macroeconomic variables of exogenous and policy-induced shocks, highlighting the roles of rural-urban migrations and capital accumulation in the informal urban sector.
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Bibliographic InfoArticle provided by Palgrave Macmillan in its journal Staff Papers - International Monetary Fund.
Volume (Year): 43 (1996)
Issue (Month): 2 (June)
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Web page: http://www.palgrave-journals.com/
Postal: Palgrave Macmillan Journals, Subscription Department, Houndmills, Basingstoke, Hampshire RG21 6XS, UK
Find related papers by JEL classification:
- O17 - Economic Development, Technological Change, and Growth - - Economic Development - - - Formal and Informal Sectors; Shadow Economy; Institutional Arrangements
- O18 - Economic Development, Technological Change, and Growth - - Economic Development - - - Urban, Rural, Regional, and Transportation Analysis; Housing; Infrastructure
- J21 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Force and Employment, Size, and Structure
- J4 - Labor and Demographic Economics - - Particular Labor Markets
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- Agenor, Pierre-Richard & Izquierdo, Alejandro & Fofack, Hippolyte, 2003. "The integrated macroeconomic model for poverty analysis : a quantitative macroeconomic framework for the analysis of poverty reduction strategies," Policy Research Working Paper Series 3092, The World Bank.
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