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This paper discusses theoretical aspects and evidences related to designing labor market institutions in emerging market and developing economies. This note reviews the state of theory and evidence on the design of labor market institutions in a developing economy context and then reviews its consistency with actual labor market advice in a selected set of emerging and developing economies. The focus is mainly on three broad sets of institutions that matter for both workers’ protection and labor market efficiency: employment protection, unemployment insurance and social assistance, minimum wages and collective bargaining. Text mining techniques are used to identify IMF recommendations in these areas in Article IV Reports for 30 emerging and frontier economies over 2005–2016. This note has provided a critical review of the literature on the design of labor market institutions in emerging and developing market economies, and benchmarked the advice featured in IMF recommendations for 30 emerging market and frontier economies against the tentative conclusions from the literature.
Since the economic and financial crisis of 2008, the proportion of unemployed young people has exceeded any other group of unemployed adults. This phenomenon marks the emergence of a laborscape. This concept recognizes that, although youth unemployment is not consistent across the world, it is a coherent problem in the global political economy. This book examines this crisis of youth unemployment, drawing on international case studies. It is organized around four key dimensions of the crisis: precarity, flexibility, migration, and policy responses. With contributions from leading experts in the field, the chapters offer a dynamic portrait of unemployment and how this is being challenged through new modes of resistance. This book provides cross-national comparisons, both ethnographic and quantitative, to explore the contours of this laborscape on the global, national, and local scales. Throughout these varied case studies is a common narrative from young workers, families, students, volunteers, and activists facing a new and growing problem. This book will be an imperative resource for students and researchers looking at the sociology of globalization, global political economy, labor markets, and economic geography.
We study the role of uncertainty shocks in explaining unemployment dynamics, separating out the role of aggregate and sectoral channels. Using S&P500 data from the first quarter of 1957 to third quarter of 2014, we construct separate indices to measure aggregate and sectoral uncertainty and compare their effects on the unemployment rate in a standard macroeconomic vector autoregressive (VAR) model. We find that aggregate uncertainty leads to an immediate increase in unemployment, with the impact dissipating within a year. In contrast, sectoral uncertainty has a long-lived impact on unemployment, with the peak impact occurring after two years. The results are consistent with a view that the impact of aggregate uncertainty occurs through a “wait-and-see” mechanism while increased sectoral uncertainty raises unemployment by requiring greater reallocation across sectors.
The effective utilization of available resources is a pivotal factor for production levels in modern business environments. However, when resources are limited or in excess, this effects organizational success, as well as the labor market. The Handbook of Research on Unemployment and Labor Market Sustainability in the Era of Globalization is a comprehensive reference source for the latest scholarly research on the socio-economic dynamics of unemployment and the development of new policies to assist in regulating the global labor market. Highlighting innovative approaches and relevant perspectives, such as outsourcing, trade openness, and employment protection, this publication is ideally designed for policy makers, professionals, practitioners, graduate students, and academics interested in emerging trends for labor market development.
This informative book discusses in depth the youth unemployment "problem" and examines the various policy responses to it, including education and training, and active labor market policy. It emphasizes the need for adequate labor market information, policy monitoring and program evaluation to help provide more and better quality jobs for young people --while also offering specific recommendations and guidelines for this age group in industrialized, transition and developing countries.
Globalization and unemployment are two phenomena which are amongst the most widely discussed subjects in the economic debate today. Often, globalization is regarded as being responsible for the increase in unemployment, particularly in unskilled labor. This book deals with the correlation between globalization and unemployment under various aspects: historical aspects of globalization, empirical trends and theoretical explanations of unemployment, effects of globalization in general and of European Monetary Union in particular on umemployment, labor market policy in a global economy, the impact of fiscal policy on unemployment in a global economy, as well as the effects of globalization on inflation and national stabilization policy.