The Brazilian Crisis: From Inertial Inflation to Fiscal Fragility
AbstractThis paper documents the employment disadvantage faced by the less qualified part of the labor force and examines the factors that influence the differing extent of this disadvantage across OECD countries. We argue that employment rates for quartiles of the population ranked by educational qualification provide the best measure of employment disadvantage. We show that differences in these employment rates for the most- and least-educated quartiles vary substantially within Europe, but are not on average higher than those in the USA. The least qualified suffer the greatest employment disadvantage in countries in which the overall employment rates are low and, for men, the literacy test scores for the least qualified are relatively low. A high level of imports from the South appears to be associated with greater employment disadvantage, but there is no discernible tendency for a high level of wage dispersion, low benefits, or weak employment protection legislation to be associated with greater employment disadvantage. Labor market flexibility has not been the route by which some OECD countries have managed to minimize the employment disadvantage of the least qualified.
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Bibliographic InfoPaper provided by EconWPA in its series Macroeconomics with number 0004040.
Length: 20 pages
Date of creation: 19 Oct 2000
Date of revision:
Note: Type of Document - Adobe Acrobat PDF; prepared on IBM PC; to print on PostScript; pages: 20; figures: included
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Other versions of this item:
- Jan Kregel, 2000. "The Brazilian Crisis: From Inertial Inflation to Fiscal Fragility," Economics Working Paper Archive wp_294, Levy Economics Institute.
- E - Macroeconomics and Monetary Economics
This paper has been announced in the following NEP Reports:
- NEP-ALL-2001-02-14 (All new papers)
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