연구보고서IMF Working Paper 11-293
Employment Protection and Business Cycles in Emerging Economies
- 청구기호
- WP 11-293
- 발행사항
- Washington,D.C : IMF, 2011
- 형태사항
- 39 p. :. PDF file ;. 962 KB
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소장정보
위치 | 등록번호 | 청구기호 / 출력 | 상태 | 반납예정일 |
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이용 가능 (1) | ||||
E0001069 | 대출가능 | - |
이용 가능 (1)
- 등록번호
- E0001069
- 상태/반납예정일
- 대출가능
- -
- 위치/청구기호(출력)
책 소개
We build a small open economy, real business cycle model with labor market frictions to evaluate the role of employment protection in shaping business cycles in emerging economies. The model features matching frictions and an endogenous selection effect by which inefficient jobs are destroyed in recessions. In a quantitative version of the model calibrated to the Mexican economy we find that reducing separation costs to a level consistent with developed economies would reduce output volatility by 15 percent. We also use the model to analyze the Mexican crisis episode of 2008 and conclude that an economy with lower separation costs would have experienced a smaller drop in output and in measured total factor productivity with no significant change in aggregate employment.