Banco Central de ChileVolumen 8: Labor Markets and Institutions
Editado por Jorge Enrique Restrepo y Andrea Tokman R. - ISBN 956-7421-20-X
The importance of the labor market is indisputable. The countries' economic outcomes rely to a significant extent on its performance, as production, economic growth, and prices are all intimately linked with it. Moreover, the functioning of the labor market is a key determinant of social welfare. Elements such as unemployment and its duration, job quality, wages and compensations, greatly influence individual well being, and are in turn greatly influenced by the performance of the labor market and its institutions. Thus, labor markets and their response to shocks or changing conditions, the functioning of labor institutions under different scenarios, the ways in which they can be modified to improve their efficiency and the endogeneity of sub-optimal institutional arrangements, are some of the very significant issues that are analyzed in the collection of studies included in this book. Surely, it will contribute to a better understanding of this market by proposing new empirical evaluation approaches, and will enlighten the policy discussion by suggesting ways to improve the design of labor regulations and institutions.
Comentarios
"Labor market institutions and regulations are a key determinant of tile level and composition of employment and of tile productivity of jobs.This volume puts together a number of important contributions on the effects of labor market institutions in general and their role in the economic problems of Latin American countries.This is an indispensable volume for those wishing to understand labor markets in developing countries."
Daron Acemoglu, Massachuseas Institute of Technology.
"Over the past two decades policy makers around the world have struggled with some very basic questions. Why do we need labor market regulations? How much do they affect long-run growth and income inequality? Who benefits from minimum wage legislation and employment security laws? Who loses? The chapters in this book provide new answers, with special emphasis on experiences of Chile and Latin America. Using the latest theoretical tools and empirical methods, they offer an informative and balanced perspective that will be of interest to practitioners and specialists alike."
David Card, University of California at Berkeley.
"Much progress has been made in recent years in the understanding of the effects of labor market policies and institutions. Careful data analysis has allowed a welcome move from priors to facts, and the unbundling of otherwise vague notions about labor market "flexibility" or "rigidity".The trend is well illustrated by this book, which contains a remarkable collection of research papers, addressing labor market issues from several important angles."
Martin Rama, Lead Economist, The World Bank.
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