Impact of the 2008–2009 Twin Economic Crises on the Philippine Labor Market
This study examines how the 2008–2009 surges in international food and fuel prices and the coinciding global financial crisis impacted the Philippine labor market. Regression estimates using repeated quarterly waves of the Labor Force Survey indicate small declines in employment probabilities, while real wages fell more dramatically: about 6% during the price surges and 3–4% during the financial crisis. Men experienced slightly larger wage declines and women marginally greater employment cuts. Workers across education and age groups experienced wage drops, especially less educated men, women with high school degrees, and older workers.
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- Yap, Josef T. & Cuenca, Janet S. & Reyes, Celia M., 2009. "Impact of the Global Financial and Economic Crisis on the Philippines," Discussion Papers DP 2009-30, Philippine Institute for Development Studies.
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- Sobrevinas, Alellie B. & de Jesus, Jeremy & Reyes, Celia M., 2010. "The Impact of the Global Financial Crisis on Poverty in the Philippines," Discussion Papers DP 2010-04, Philippine Institute for Development Studies.
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- Alan S. Blinder, 1973. "Wage Discrimination: Reduced Form and Structural Estimates," Journal of Human Resources, University of Wisconsin Press, vol. 8(4), pages 436-455.
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- Gunseli Berik & Yana van der Meulen Rodgers & Stephanie Seguino, 2009. "Feminist Economics of Inequality, Development, and Growth," Feminist Economics, Taylor & Francis Journals, vol. 15(3), pages 1-33.
- Celia Reyes & Alellie SobrevinÃŒÆ’as & Jeremy de Jesus, 2010. "The Impact of the Global Financial Crisis on Poverty in the Philippines," Finance Working Papers 22808, East Asian Bureau of Economic Research.
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