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Unemployment-Poverty Tradeoffs

In: Labor Markets and Institutions

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  • Pierre-Richard Agénor

    (University of Manchester)

Abstract

The author examines the potential trade-offs that may arise between poverty alleviation and unemployment reduction. He discusses various analytical arguments that may provide a rationale for their existence, and uses three alternative methodologies to assess their relevance: a vector autoregression framework (which is applied to Brazil and Chile), cross-country regressions, and simulations with a structural macro model linked to a household survey. Impulse response functions to output and wage shocks indicate no short-run tradeoff. between unemployment and poverty. By contrast, regression results, which control for a variety of determinants of poverty rates across countries, suggest that such a trade-off may indeed exist. Simulations with the structural model show that labor market reforms may induce both short- and long-run trade-offs between the composition of unemployment and the incidence of poverty among household groups.

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Bibliographic Info

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This chapter was published in: Jorge Restrepo & Andrea Tokman R. & Norman Loayza (Series Editor) & Klaus Schmidt-Hebbel (Series Editor) (ed.) Labor Markets and Institutions, , chapter 5, pages 115-165, 2005.

This item is provided by Central Bank of Chile in its series Central Banking, Analysis, and Economic Policies Book Series with number v08c05pp115-165.

Handle: RePEc:chb:bcchsb:v08c05pp115-165

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References

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  1. C Bean & Christopher A. Pissarides, 1992. "Unemployment, Consumption and Growth," CEP Discussion Papers dp0100, Centre for Economic Performance, LSE.
  2. Marianne Baxter & Robert G. King, 1995. "Measuring Business Cycles Approximate Band-Pass Filters for Economic Time Series," NBER Working Papers 5022, National Bureau of Economic Research, Inc.
  3. Martin Ravallion, 2004. "The Debate on Globalization, Poverty and Inequality: why Measurement Matters," QA - Rivista dell'Associazione Rossi-Doria, Associazione Rossi Doria, Associazione Rossi Doria, issue 1, March.
  4. Schaik, A.B.T.M. van & Groot, H.L.F. de, 1995. "Unemployment and endogenous growth," Discussion Paper, Tilburg University, Center for Economic Research 1995-75, Tilburg University, Center for Economic Research.
  5. Pierre-Richard Agénor, 2004. "Macroeconomic Adjustment and the Poor: Analytical Issues and Cross-Country Evidence," Journal of Economic Surveys, Wiley Blackwell, Wiley Blackwell, vol. 18, pages 351-408, 07.
  6. Sims, Christopher A & Stock, James H & Watson, Mark W, 1990. "Inference in Linear Time Series Models with Some Unit Roots," Econometrica, Econometric Society, Econometric Society, vol. 58(1), pages 113-44, January.
  7. Joshua Aizenman & Pierre-Richard Agénor, 1994. "Macroeconomic Adjustment with Segmented Labor Markets," IMF Working Papers 94/56, International Monetary Fund.
  8. Pierre-Richard Agénor & Derek Chen & Michael Grimm, 2004. "Linking Representative Household Models with Household Surveys for Poverty Analysis A Comparison of Alternative Methodologies," Development and Comp Systems 0405006, EconWPA.
  9. Lawrence J. Christiano & Terry J. Fitzgerald, 1999. "The Band pass filter," Working Paper 9906, Federal Reserve Bank of Cleveland.
  10. Deaton, A., 2000. "Counting the World's Poor: Problems and Possible Solutions," Papers, Princeton, Woodrow Wilson School - Development Studies 197, Princeton, Woodrow Wilson School - Development Studies.
  11. Agenor, Pierre-Richard & Aynaoui, Karim El, 2003. "Labor market policies and unemployment in Morocco : a quantitative analysis," Policy Research Working Paper Series 3091, The World Bank.
  12. Aghion, Philippe & Howitt, Peter, 1991. "Growth and Unemployment," CEPR Discussion Papers, C.E.P.R. Discussion Papers 577, C.E.P.R. Discussion Papers.
  13. Agenor, Pierre-Richard & Jensen, Henning Tarp & Verghis, Mathew & Yeldan, Erinc, 2006. "Disinflation, fiscal sustainability, and labor market adjustment in Turkey," Policy Research Working Paper Series 3804, The World Bank.
  14. Cahuc, P. & Michel, P., 1992. "Minimum Wage, Unemployment and Growth," Papiers d'Economie Mathématique et Applications, Université Panthéon-Sorbonne (Paris 1) 92.35, Université Panthéon-Sorbonne (Paris 1).
  15. Fabio Arico, 2003. "Growth and Unemployment: Towards a Theoretical Integration," Journal of Economic Surveys, Wiley Blackwell, Wiley Blackwell, vol. 17(3), pages 419-455, 07.
  16. World Bank, 2004. "Unlocking the Employment Potential in the Middle East and North Africa : Toward a New Social Contract," World Bank Publications, The World Bank, number 15011, August.
  17. King, Ian & Welling, Linda, 1995. "Search, unemployment, and growth," Journal of Monetary Economics, Elsevier, Elsevier, vol. 35(3), pages 499-507, June.
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Cited by:
  1. Chaudhuri, Sarbajit & Banerjee, Dibyendu, 2010. "FDI in Agricultural Land, Welfare and Unemployment in a Developing Economy," MPRA Paper 23488, University Library of Munich, Germany.

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