scholarly journals Labor Market Dynamics, Informality and Regulations in Latin America

2020 ◽  
Vol 20 (20) ◽  
Author(s):  
Antonio David ◽  
Samuel Pienknagura ◽  
Jorge Roldos
Keyword(s):  
Latin America ◽  
Labor Market ◽  
Job Creation ◽  
Employment Protection ◽  
Medium Term ◽  
Job Destruction ◽  
Speed Of Adjustment ◽  
Labor Market Dynamics ◽  
The Caribbean ◽  
Labor Market Regulations

Labor markets in Latin America and the Caribbean (LAC) are characterized by high levels of informality and relatively rigid regulation. This paper shows that these two features are related and together make the speed of adjustment of employment to shocks slower, especially when regulations are tightly enforced. Evidence suggests that strict labor market regulations also have an adverse effect on medium-term growth. While both regulations on prices (minimum wages) and quantities (employment protection) decrease the speed of adjustment to shocks, they appear to be binding in different phases of the cycle—the former affects mostly the (net) job creation margin and the latter the (net) job destruction margin. The results also highlight possible interactions between labor market regulations and the effectiveness of macro-stabilization tools—including exchange rate depreciation.

Employment Protection Legislation in Emerging Economies

2018 ◽  
pp. 29-47
Author(s):  
Samir Amine ◽  
Wilner Predelus
Keyword(s):  
Economic Growth ◽  
Information Technology ◽  
Labor Market ◽  
Emerging Economies ◽  
Job Creation ◽  
Employment Protection ◽  
Employment Protection Legislation ◽  
Trade Off ◽  
Protection Legislation ◽  
Labor Market Regulations

With emerging economies facing significant lags in the use of information technology to improve their productivity and compete with industrialized economies, the availability of relatively lower-cost labor in the emerging economies is considered a powerful asset that can compensate for their technological disadvantage. However, regulating the labor market often proves to be rather challenging as it is important that a balance be struck between protecting workers and stimulating economic growth. This chapter analyzes the literature on labor market regulations in the emerging economies to observe that the trade-off between employment protection legislation (EPL), job creation, productivity, and innovation often cited in the literature is not conclusive.

scholarly journals Another Look at the Macroeconomic Information Content of Aggregate Earnings: Evidence from the Labor Market

2020 ◽  
Author(s):  
Rebecca N. Hann ◽  
Congcong Li ◽  
Maria Ogneva
Keyword(s):  
Labor Market ◽  
Information Content ◽  
Job Creation ◽  
Job Destruction ◽  
Special Items ◽  
Macroeconomic Information ◽  
Earnings Components ◽  
Aggregate Earnings ◽  
Core Earnings ◽  
Near Term

We examine the macroeconomic information content of aggregate earnings from the labor market's perspective. We use insights from the labor economics literature to characterize the information contained in aggregate GAAP earnings and its components that is relevant for predicting aggregate job creation and destruction. Our results suggest that not only does aggregate earnings news convey information about future labor market aggregates, but its information content is incremental to other macroeconomic variables at near-term horizons. Further, the source of this information stems primarily from two earnings components: aggregate core earnings and special items. Shocks to core earnings signal persistent changes in economy-wide profitability that predict aggregate job creation up to four quarters ahead, while shocks to special items predict job destruction up to one quarter. Taken together, our results suggest that aggregate earnings contain useful information about future labor market conditions, with the nature of such information varying across earnings components.

Forecasting the Impact of Automation on Jobs

2021 ◽  
pp. 21-40
Author(s):  
Cynthia Estlund
Keyword(s):  
Labor Market ◽  
Job Creation ◽  
Job Destruction ◽  
Advanced Education ◽  
Comparative Advantages ◽  
Human Skills ◽  
Minority View ◽  
The Impact

Chapter 2 digs more deeply into the outlook for job destruction and job creation, and adds some theory and data to Chapter 1’s anecdotes about how machines can replace human workers. It reports an emerging consensus among leading scholars that automation is already contributing to the polarization, or hollowing out, of the labor market by destroying more middle-skill jobs than it is creating. And it reports on the more concerning prediction—still a minority view though more than plausible—that machines are destined to produce overall net job losses as they continually whittle away at humans’ comparative advantages. The chapter arrives at a working premise for the rest of the book that straddles those two forecasts: We are facing a future of less work—at least less work for those with ordinary human skills and without advanced education, and perhaps less work overall. While that straddle might seem untenable, either forecast is similarly bleak for most workers—if we do not respond constructively; and when it comes to the shape of a constructive response, both forecasts point largely in the same direction.

scholarly journals Job Creation and Job Destruction in a Regulated Labor Market: The Case of Austria

2002 ◽  
Author(s):  
Alfred Stiglbauer ◽  
Florian Stahl ◽  
Rudolf Winter-Ebmer ◽  
Josef Zweimueller
Keyword(s):  
Labor Market ◽  
Job Creation ◽  
Job Destruction

Labor Market Trajectories in Latin America and the Caribbean: A Synthetic Panel Analysis

2018 ◽  
Author(s):  
Carla Calero ◽  
Juan Mejalenko ◽  
Oscar Mitnik ◽  
Laura Ripani
Keyword(s):  
Latin America ◽  
Labor Market ◽  
Panel Analysis ◽  
The Caribbean ◽  
Synthetic Panel

scholarly journals Do Labor Market Regulations Affect the Link between Innovation and Employment? Evidence from Latin America

2019 ◽  
Vol 19 (3) ◽  
Author(s):  
Laura Baensch ◽  
Maria Laura Lanzalot ◽  
Giulia Lotti ◽  
Rodolfo Stucchi
Keyword(s):  
Latin America ◽  
Labor Market ◽  
Latin American ◽  
Employment Growth ◽  
Positive Impact ◽  
Process Innovations ◽  
Severance Payments ◽  
Labor Market Regulations ◽  
The Relationship ◽  
Latin American Countries

Abstract This paper sheds light on how labor market regulations affect the relationship between different types of innovation and employment in Latin America. We estimate the effect of process and product innovation on employment growth using Enterprise Surveys for 14 Latin American countries. We calculate the model for the whole sample and then classify countries according to the rigidness of their labor market regulations. We find that: (i) product innovations have a positive impact on employment growth; (ii) process innovations do not affect employment growth; and (iii) more rigid labor market regulations (minimum wages and severance payments) reduce the effects of innovation.

scholarly journals Labor Market Dynamics, Informality and Regulations in Latin America

2020 ◽  
Author(s):  
Antonio C. David ◽  
Samuel Pienknagura ◽  
Jorge E. Roldos
Keyword(s):  
Latin America ◽  
Labor Market ◽  
Market Dynamics ◽  
Labor Market Dynamics
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