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The Cost of Job Security Regulation: Evidence from Latin American Labor Markets

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  • Carmen Pagés-Serra
  • James J. Heckman

Abstract

This paper documents the high level of job security protection in Latin American labor markets and analyzes its impacts on employment. The authors show that job security policies have a substantial impact on the level and the distribution of employment in Latin America. These policies reduce employment and promote inequality. The institutional organization of the labor market affects both employment and inequality.

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Bibliographic Info

Paper provided by Inter-American Development Bank in its series IDB Publications with number 4119.

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Date of creation: Aug 2000
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Handle: RePEc:idb:brikps:4119

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Related research

Keywords: Financial Crises & Economic Stabilization; Poverty; Workforce & Employment; Labor; legislation; law; job security; labor markets;

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References

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  1. Andrew S. Downes & Nlandu Mamingi & Rose-Marie Belle Antoine, 2000. "Labor Market Regulation and Employment in the Caribbean," Research Department Publications, Inter-American Development Bank, Research Department 3088, Inter-American Development Bank, Research Department.
  2. R. Jackman & R. Layard & S. Nickell, 1996. "Combatting unemployment: is flexibility enough?," LSE Research Online Documents on Economics, London School of Economics and Political Science, LSE Library 47446, London School of Economics and Political Science, LSE Library.
  3. Ricardo Paes de Barros & Carlos Henrique Corseuil, 2004. "The Impact of Regulations on Brazilian Labor Market Performance," NBER Chapters, National Bureau of Economic Research, Inc, in: Law and Employment: Lessons from Latin America and the Caribbean, pages 273-350 National Bureau of Economic Research, Inc.
  4. Bentolila, S. & Saint-Paul, G., 1995. "A model of labour demand with linear adjustment costs," Labour Economics, Elsevier, Elsevier, vol. 2(1), pages 105-105, March.
  5. Lazear, Edward P, 1990. "Job Security Provisions and Employment," The Quarterly Journal of Economics, MIT Press, MIT Press, vol. 105(3), pages 699-726, August.
  6. Katherine G. Abraham & Susan N. Houseman, 1993. "Does Employment Protection Inhibit Labor Market Flexibility? Lessons from Germany, France and Belgium," Upjohn Working Papers and Journal Articles, W.E. Upjohn Institute for Employment Research 93-16, W.E. Upjohn Institute for Employment Research.
  7. Caballero, R.J. & Hammour, M.L., 1997. "Jobless Growth: Appropriability, Factor-Substitution, and Unemployment," Working papers, Massachusetts Institute of Technology (MIT), Department of Economics 97-18, Massachusetts Institute of Technology (MIT), Department of Economics.
  8. Carmen Pagés & Claudio E. Montenegro, 2007. "Job security and the age-composition of employment: evidence from Chile," Estudios de Economia, University of Chile, Department of Economics, University of Chile, Department of Economics, vol. 34(2 Year 20), pages 109-139, December.
  9. Stephen Nickell, 1997. "Unemployment and Labor Market Rigidities: Europe versus North America," Journal of Economic Perspectives, American Economic Association, American Economic Association, vol. 11(3), pages 55-74, Summer.
  10. Carmen Pagés-Serra & Gustavo Márquez, 1998. "Ties That Bind: Employment Protection and Labor Market Outcomes in Latin America," Research Department Publications, Inter-American Development Bank, Research Department 4118, Inter-American Development Bank, Research Department.
  11. Risager, Ole & Sorensen, Jan Rose, 1997. "On the effects of firing costs when investment is endogenous: An extension of a model by Bertola," European Economic Review, Elsevier, Elsevier, vol. 41(7), pages 1343-1353, July.
  12. Victor Aguirregabiria & Cesar Alonso-Borrego, 2009. "Labor Contracts and Flexibility: Evidence from a Labor Market Reform in Spain," Working Papers, University of Toronto, Department of Economics tecipa-346, University of Toronto, Department of Economics.
  13. Jaime Saavedra-Chanduví & Máximo Torero, 2000. "Labor Market Reforms and Their Impact on Formal Labor Demand and Job Market Turnover: The Case of Peru," IDB Publications, Inter-American Development Bank 43058, Inter-American Development Bank.
  14. Bertola, Giuseppe, 1990. "Job security, employment and wages," European Economic Review, Elsevier, Elsevier, vol. 34(4), pages 851-879, June.
  15. Bentolila, Samuel & Bertola, Giuseppe, 1990. "Firing Costs and Labour Demand: How Bad Is Eurosclerosis?," Review of Economic Studies, Wiley Blackwell, Wiley Blackwell, vol. 57(3), pages 381-402, July.
  16. Richard B. Freeman, 2000. "Single Peaked Vs. Diversified Capitalism: The Relation Between Economic Institutions and Outcomes," NBER Working Papers, National Bureau of Economic Research, Inc 7556, National Bureau of Economic Research, Inc.
  17. Hopenhayn, Hugo & Rogerson, Richard, 1993. "Job Turnover and Policy Evaluation: A General Equilibrium Analysis," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 101(5), pages 915-38, October.
  18. Guillermo Mondino & Silvia Montoya, 2000. "The Effects of Labor Market Regulations on Employment Decisions by Firms: Empirical Evidence for Argentina," Research Department Publications, Inter-American Development Bank, Research Department 3091, Inter-American Development Bank, Research Department.
  19. Anderson, Patricia M, 1993. "Linear Adjustment Costs and Seasonal Labor Demand: Evidence from Retail Trade Firms," The Quarterly Journal of Economics, MIT Press, MIT Press, vol. 108(4), pages 1015-42, November.
  20. Lindbeck, Assar & Snower, Dennis J., 1987. "Union activity, unemployment persistence and wage-employment ratchets," European Economic Review, Elsevier, Elsevier, vol. 31(1-2), pages 157-167.
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