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Law and Employment: Lessons from Latin America and the Caribbean

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  • James Heckman
  • Carmen Pages

Abstract

This paper summarizes the main lessons learned from Law and Employment: Lessons from Latin America and the Caribbean, a forthcoming NBER book. It places Latin American economies and economic policies in a world context. The paper quantifies the cost of regulation in Latin America and OECD Europe and discusses the origin of regulation. It shows the fragility of time series data analyses of the sort widely used to analyze the impact of regulation in OECD Europe and the benefits of using microdata data. The evidence shows that regulation reduces labor market flexibility, reduces the employment of marginal workers and generates inequality in the larger society.

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File URL: http://www.nber.org/papers/w10129.pdf
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Bibliographic Info

Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 10129.

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Date of creation: Dec 2003
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Publication status: published as James J. Heckman & Carmen Pagés, 2004. "Law and Employment: Lessons from Latin American and the Caribbean," NBER Books, National Bureau of Economic Research, Inc, number heck04-1, 6.
Handle: RePEc:nbr:nberwo:10129

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