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Monday, August 10, 2020 | History

2 edition of Effective labor regulation and microeconomics flexibility found in the catalog.

Effective labor regulation and microeconomics flexibility

by Ricardo J. Caballero

  • 49 Want to read
  • 14 Currently reading

Published by Massachusetts Institute of Technology, Dept. of Economics in Cambridge, MA .
Written in English


About the Edition

Microeconomic flexibility, by facilitating the process of creative-destruction, is at the core of economic growth in modern market economies. The main reason for why this process is not infinitely fast, is the presence of adjustment costs, some of them technological, others institutional. Chief among the latter is labor market regulation. While few economists would object to such a view, its empirical support is rather weak. In this paper we revisit this hypothesis and find strong evidence for it. We use a new sectoral panel for 60 countries and a methodology suitable for such a panel. We find that job security regulation clearly hampers the creative-destruction process, especially in countries where regulations are likely to be enforced. Moving from the 20th to the 80th percentile in job security, in countries with strong rule of law, cuts the annual speed of adjustment to shocks by a third while shaving off about one percent from annual productivity growth. The same movement has negligible effects in countries with weak rule of law. Keywords: Microeconomic rigidities, creative-destruction, job security regulation, adjustment costs, rule of law, productivity growth. JEL Classifications: E24, J23, J63, J64, K00.

Edition Notes

StatementRicardo J. Caballero ... [et al]
SeriesWorking paper series / Massachusetts Institute of Technology, Dept. of Economics -- working paper 04-30, Working paper (Massachusetts Institute of Technology. Dept. of Economics) -- no. 04-30.
ContributionsMassachusetts Institute of Technology. Dept. of Economics
The Physical Object
Pagination32 p. :
Number of Pages32
ID Numbers
Open LibraryOL24639992M
OCLC/WorldCa57617806

  Technological change has made it easier to have flexible labour markets. For example, the internet has increased the ability for people to work from home or set up their own self-employment business. Changing social environment e.g. increased female participation in the labour force, women are more likely to favour part-time, flexible work.   Microeconomics, 10th Edition by David Colander () Preview the textbook, purchase or get a FREE instructor-only desk Edition:

Description. For courses in Principles of Microeconomics. An evidence-based approach to economics. Throughout Microeconomics, 2nd Edition, authors Daron Acemoglu, David Laibson, and John List use real economic questions and data to help students learn about the world around them. Taking a fresh approach, they use the themes of optimization, equilibrium, and empiricism to not only illustrate Format: On-line Supplement. Microeconomics. Module: Income Distribution. Search for: Reading: Labor Markets at Work. Labor Markets at Work. We have seen that a firm’s demand for labor depends on the marginal product of labor and the price of the good the firm produces. We add the demand curves of individual firms to obtain the market demand curve for labor.

Principles of Microeconomics/Issues in Labor Markets: Unions, Discrimination, Immigration. From Wikibooks, open books for an open world Introduction to Issues in Labor Markets: Unions, Discrimination, Immigration In this chapter, you will learn about: Many of the laws listed in the table were only the start of labor market regulations. Book: Microeconomics (OpenStax) 4: Labor and Financial Markets Government imposes costly new regulations to make coal-mining a safer job. Solution. S1. changes in the production process that use more or less labor, government regulation) causes a shift in the demand curve. S2.


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Effective labor regulation and microeconomics flexibility by Ricardo J. Caballero Download PDF EPUB FB2

Statement of responsibility reads: Ricardo J. Caballero, Kevin N. Cowan, Eduardo M.R.A. Engel and Alejandro MiccoPages: Microeconomic flexibility is at the core of economic growth in modern market economies because it facilitates the process of creative-destruction.

The main reason why this process is not infinitely fast, is the presence of adjustment costs, some of them technological, others institutional. Chief among the latter is labor market by: Download Citation | Effective labor regulation and microeconomics flexibility | Statement of responsibility reads: Ricardo J.

Caballero, Kevin N. Cowan, Eduardo M.R.A. Engel and Alejandro Micco. Downloadable. Microeconomic flexibility is at the core of economic growth in modern market economies because it facilitates the process of creative-destruction, The main reason why this process is not infinitely fast, is the presence of adjustment costs, some of them technological, others institutional.

Chief among the latter is labor market regulation. Chief among the latter is labor market regulation. While few economists object to the hypothesis that labor market regulation hinders the process of creative-destruction, its empirical support is limited.

In this paper we revisit this hypothesis, using a new sectoral panel for 60 countries and a methodology suitable for such a by: Downloadable (with restrictions). Microeconomic flexibility is at the core of economic growth in modern market economies because it facilitates the process of creative-destruction.

The main reason why this process is not infinitely fast, is the presence of adjustment costs, some of them technological, others institutional. Chief among the latter is labor market regulation. Effective Labor Regulation and Microeconomic Flexibility.

Microeconomic flexibility, by facilitating the process of creative-destruction, is at the core of economic growth in modern market economies.

The main reason for why this process is not infinitely fast, is the presence of adjustment costs, some of them technological, other institutional. Chief among the latter is labor market by:   Although the literature on the impact of labor market regulation on labor markets is extensive and contentious, there is agreement that job security provisions reduce restructuring.

Despite this consensus, the empirical evidence supporting the negative impact of labor market regulation on microeconomic flexibility is scant at best. Effective Labor Regulation and Microeconomic Flexibility Ricardo J. Caballero Kevin N.

Cowan Eduardo M.R.A. Engel Alejandro Micco Abstract Microeconomic flexibility, by facilitating the process of creative-destruction, is at the core of economic growth in modern market economies.

The main reason for why this process is not. MICROECONOMICS Principles and Analysis Frank A. Cowell STICERD and Department of Economics London School of Economics December File Size: 4MB.

Chief among the latter is labor market regulation. While few economists would object to such a view, its empirical support is rather weak. In this paper we revisit this hypothesis and find strong evidence for it.

COVID Resources. Reliable information about the coronavirus (COVID) is available from the World Health Organization (current situation, international travel).Numerous and frequently-updated resource results are available from this ’s WebJunction has pulled together information and resources to assist library staff as they consider how to handle coronavirus.

Labour market flexibility means that it is easy for workers to change jobs and choose different types of work. It also implies that firms find it relatively easy to hire and fire workers can use temporary contracts, rather than get locked into rigid labour contracts.

Start studying Final study guide: Microeconomics. Learn vocabulary, terms, and more with flashcards, games, and other study tools. Economics Books. This section contains free e-books and guides on Economics, some of the resources in this section can be viewed online and some of them can be downloaded.

Agents, Ownership, Regulation, Productivity, Revenue, Pricing, Supply chains, Production and cost, Negative externalities, Positive externalities. Principles of. The labor market is unique in that the workers are the producers of labor and the firms are consumers of labor.

Price can be denominated in hourly wage, with the quantity of workers on the x-axis. If the government sets a binding minimum wage (price floor), it Author: Emma Hutchinson.

MACROECONOMICS MatthiasDoepke UniversityofChicago AndreasLehnert BoardofGovernorsofthe FederalReserveSystem en GeorgeMasonUniversity. The law of demand applies in labor markets this way: A higher salary or wage—that is, a higher price in the labor market—leads to a decrease in the quantity of labor demanded by employers, while a lower salary or wage leads to an increase in the quantity of labor demanded.

Principles of Microeconomics an Open Textby Douglas Curtis and Ian Irvine Base Text Revision History Current Revision: Version — RevisionB Edits and revisions have been completedby the authors togetherwith the editorial staff at Lyryx Learning.

All new content (text and images) is released under the same license as noted above. BFile Size: 2MB. Microeconomics is all about how individual actors make decisions. Learn how supply and demand determine prices, how companies think about competition, and more!

We hit the traditional topics from a college-level microeconomics course. Microeconomics is the study of individuals' and businesses' decisions, while macroeconomics looks higher up, at national and government : Investopedia Staff.Microeconomics and Macroeconomics. Economics is concerned with the well-being of all people, including those with jobs and those without jobs, as well as those with high incomes and those with low incomes.

Economics acknowledges that production of useful goods and services can create problems of environmental pollution.