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Labor Markets and Institutions: An Overview

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  • Jorge Enrique Restrepo
  • Andrea Tokman

Abstract

This paper reviews the issues and papers presented at the VII Annual Conference of the Central Bank of Chile on Labor Market and Institutions, that will soon be compiled in a book by the same name. It discusses the origins of labor regulations, which are many times not associated to specific market failures. It measures its effects on labor markets, growth and inequality. Effects that vary by type of regulation, the context in which they are applied and the degree of enforcement. Finally, the paper presents work how regulations should be designed in order to generate the appropriate incentives for both firms and workers. The papers reviewed are potentially very useful in the understanding the type of regulation that should be implemented, when and how.

Suggested Citation

  • Jorge Enrique Restrepo & Andrea Tokman, 2004. "Labor Markets and Institutions: An Overview," Working Papers Central Bank of Chile 304, Central Bank of Chile.
  • Handle: RePEc:chb:bcchwp:304
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    References listed on IDEAS

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    1. Elías Albagli & Pablo García & Jorge E. Restrepo, 2005. "Assessing the Flexibility of the Labor Market in Chile: An International Perspective," Central Banking, Analysis, and Economic Policies Book Series,in: Jorge Restrepo & Andrea Tokman R. & Norman Loayza (Series Editor) & Klaus Schmidt-Hebbel (Series Edi (ed.), Labor Markets and Institutions, edition 1, volume 8, chapter 9, pages 301-328 Central Bank of Chile.
    2. Olivier J. Blanchard & Lawrence H. Summers, 1986. "Hysteresis and the European Unemployment Problem," NBER Chapters,in: NBER Macroeconomics Annual 1986, Volume 1, pages 15-90 National Bureau of Economic Research, Inc.
    3. Fabiani, S. & Palenzuela-Rodriguez, D., 2001. "Model-Based Indicators of Labour Market Rigidity," Papers 57, Quebec a Montreal - Recherche en gestion.
    4. Alberto Chong & Florencio Lopez-de-Silanes, 2004. "Privatización en México," Research Department Publications 4374, Inter-American Development Bank, Research Department.
    5. Dolado, Juan J. & Jimeno, Juan F., 1997. "The causes of Spanish unemployment: A structural VAR approach," European Economic Review, Elsevier, vol. 41(7), pages 1281-1307, July.
    6. Balmaseda, Manuel & Dolado, Juan J & Lopez-Salido, J David, 2000. "The Dynamic Effects of Shocks to Labour Markets: Evidence from OECD Countries," Oxford Economic Papers, Oxford University Press, vol. 52(1), pages 3-23, January.
    7. Jose De Gregorio & Andrea Tokman R., 2004. "Overcoming Fear of Floating: Exchange Rate Policies in Chile," Working Papers Central Bank of Chile 302, Central Bank of Chile.
    8. Jonas Agell, 2002. "On the Determinants of Labour Market Institutions: Rent Seeking vs. Social Insurance," German Economic Review, Verein für Socialpolitik, vol. 3(2), pages 107-135, May.
    9. Ricardo J. Caballero & Eduardo M. R. A. Engel, 1993. "Microeconomic Adjustment Hazards and Aggregate Dynamics," The Quarterly Journal of Economics, Oxford University Press, vol. 108(2), pages 359-383.
    10. César Calderón & Alberto Chong, 2005. "Are Labor Market Regulations an Obstacle for Long-term Growth?," Central Banking, Analysis, and Economic Policies Book Series,in: Jorge Restrepo & Andrea Tokman R. & Norman Loayza (Series Editor) & Klaus Schmidt-Hebbel (Series Edi (ed.), Labor Markets and Institutions, edition 1, volume 8, chapter 6, pages 167-219 Central Bank of Chile.
    11. Claudio Montenegro & Carmen Pagés, 2005. "Who Benefits from Labor Market Regulations? Chile 1960-1998," Central Banking, Analysis, and Economic Policies Book Series,in: Jorge Restrepo & Andrea Tokman R. & Norman Loayza (Series Editor) & Klaus Schmidt-Hebbel (Series Edi (ed.), Labor Markets and Institutions, edition 1, volume 8, chapter 4, pages 077-114 Central Bank of Chile.
    12. Blanchard, Olivier & Wolfers, Justin, 2000. "The Role of Shocks and Institutions in the Rise of European Unemployment: The Aggregate Evidence," Economic Journal, Royal Economic Society, vol. 110(462), pages 1-33, March.
    13. Caballero, Ricardo J & Engel, Eduardo M R A & Haltiwanger, John, 1997. "Aggregate Employment Dynamics: Building from Microeconomic Evidence," American Economic Review, American Economic Association, vol. 87(1), pages 115-137, March.
    14. Tobias Broer & Rodrigo Caputo, 2004. "Money As An Inflation Indicator In Chile: Does P* Still Work?," Working Papers Central Bank of Chile 293, Central Bank of Chile.
    15. Saint-Paul, Gilles, 2000. "The Political Economy of Labour Market Institutions," OUP Catalogue, Oxford University Press, number 9780198293323.
    16. César Calderón & Alberto Chong & Rodrigo O. Valdés, 2005. "Labor Market Regulations and Income Inequality: Evidence for a Panel of Countries," Central Banking, Analysis, and Economic Policies Book Series,in: Jorge Restrepo & Andrea Tokman R. & Norman Loayza (Series Editor) & Klaus Schmidt-Hebbel (Series Edi (ed.), Labor Markets and Institutions, edition 1, volume 8, chapter 7, pages 221-279 Central Bank of Chile.
    17. Olga Fuentes & Simon Gilchrist, 2005. "Trade Orientation and Labor Market Evolution: Evidence from Chilean Plant-level Data," Central Banking, Analysis, and Economic Policies Book Series,in: Jorge Restrepo & Andrea Tokman R. & Norman Loayza (Series Editor) & Klaus Schmidt-Hebbel (Series Edi (ed.), Labor Markets and Institutions, edition 1, volume 8, chapter 13, pages 411-435 Central Bank of Chile.
    18. Olivier Blanchard, 2005. "Designig Labor Market Institutions," Central Banking, Analysis, and Economic Policies Book Series,in: Jorge Restrepo & Andrea Tokman R. & Norman Loayza (Series Editor) & Klaus Schmidt-Hebbel (Series Edi (ed.), Labor Markets and Institutions, edition 1, volume 8, chapter 11, pages 367-381 Central Bank of Chile.
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    Cited by:

    1. Román, Concepción & Congregado, Emilio & Millán, José María, 2013. "Start-up incentives: Entrepreneurship policy or active labour market programme?," Journal of Business Venturing, Elsevier, vol. 28(1), pages 151-175.
    2. Campos, Nauro F & Nugent, Jeffrey B., 2012. "The Dynamics of the Regulation of Labor in Developing and Developed Countries since 1960," IZA Discussion Papers 6881, Institute for the Study of Labor (IZA).
    3. Esteban Puentes & Dante Contreras & Claudia Sanhueza, 2007. "Self-Employment in Chile, long run trends and education and age structures changes," Estudios de Economia, University of Chile, Department of Economics, vol. 34(2 Year 20), pages 203-247, December.
    4. John Anyanwu, 2013. "Working Paper 180 - Marital Status, Household Size and Poverty in Nigeria: Evidence from the 2009-2010 Survey Data," Working Paper Series 978, African Development Bank.

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