연구보고서IMF Working Paper 12-84
Institutions, Informality, and Wage Flexibility: Evidence from Brazil
- 청구기호
- WP 12-84
- 발행사항
- Washington,D.C : IMF, 2012
- 형태사항
- 26 p. :. PDF file ;. 985 KB
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소장정보
위치 | 등록번호 | 청구기호 / 출력 | 상태 | 반납예정일 |
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이용 가능 (1) | ||||
E0001065 | 대출가능 | - |
이용 가능 (1)
- 등록번호
- E0001065
- 상태/반납예정일
- 대출가능
- -
- 위치/청구기호(출력)
책 소개
Even though institutions are created to protect workers, they may interfere with labor market functioning, raise unemployment, and end up being circumvented by informal contracts. This paper uses Brazilian microeconomic data to show that the institutional changes introduced by the 1988 Constitution lowered the sensitivity of real wages to changes in labor market slack and could have contributed to the ensuing higher rates of unemployment in the country. Moreover, the paper shows that states that faced higher increases in informality (i.e., illegal work contracts) following the introduction of the new Constitution tended to have smaller drops in wage responsiveness to macroeconomic conditions, thus suggesting that informality serves as a escape valve to an over-regulated environment.