Wages, Employment and Economic Shocks: Evidence from Indonesia
After over a quarter century of sustained economic growth, Indonesia was struck by a large and unanticipated crisis at the end of the 20th century. Real GDP declined by about 12% in 1998. Using 13 years of annual labor force data in conjunction with two waves of a household panel, the Indonesia Family Life Survey (IFLS), this paper examines the impact of the crisis on labor market outcomes. Aggregate employment has remained remarkably robust through the crisis although there has been significant switching within sectors. The drama of the crisis lies not in aggregate employment but in real hourly earnings which, in one year, collapsed by around 40% for urban workers--be they males or females, in the market sector or self-employed. Declines of the same magnitude are recorded for females in the rural sector and rural males working for a wage. In stark contrast, real hourly earnings of self-employed males in rural areas have remained essentially stable.
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|Date of creation:||2000|
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- James A. Levinsohn & Steven T. Berry & Jed Friedman, 2003.
"Impacts of the Indonesian Economic Crisis.Price Changes and the Poor,"
in: Managing Currency Crises in Emerging Markets, pages 393-428
National Bureau of Economic Research, Inc.
- James Levinsohn & Steven Berry & Jed Friedman, 1999. "Impacts of the Indonesian Economic Crisis: Price Changes and the Poor," NBER Working Papers 7194, National Bureau of Economic Research, Inc.
- Levinsphn, J. & Berry, S. & Friedman, J., 1999. "Impacts of the Indonesian Economic Crisis: Price Changes and the Poor," Working Papers 446, Research Seminar in International Economics, University of Michigan.
- James Levinsohn & Steven Berry & Jed Friedman, 1999. "Impacts of the Indonesian Economic Crisis: Price Changes and the Poor," William Davidson Institute Working Papers Series 249, William Davidson Institute at the University of Michigan.
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- Giancarlo Corsetti & Paolo Pesenti & Nouriel Roubini, 1998. "What Caused the Asian Currency and Financial Crisis? Part I: A Macroeconomic Overview," NBER Working Papers 6833, National Bureau of Economic Research, Inc.
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Labor and Demography
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