Using micro-level data on the entire population of business loans of a bank-based economy, we empirically test some of the core predictions of the SME financing literature, examining banks’ lending specializations in firm size and lending technologies. Rejecting the conventional belief that smaller banks focus more on relationship loans than do larger banks, we find that banks of different sizes dedicate similar proportions of loans to relationship lending. However, supporting the SME finance theories on the organizational advantages of small banks, we find that smaller banks provide more access to relationship loans to small firms, though such loans are usually more expensive.
{"title":"Bank Size and Lending Specialisation","authors":"Diana Bonfim, Qinglei Dai","doi":"10.1111/ecno.12082","DOIUrl":"https://doi.org/10.1111/ecno.12082","url":null,"abstract":"Using micro-level data on the entire population of business loans of a bank-based economy, we empirically test some of the core predictions of the SME financing literature, examining banks’ lending specializations in firm size and lending technologies. Rejecting the conventional belief that smaller banks focus more on relationship loans than do larger banks, we find that banks of different sizes dedicate similar proportions of loans to relationship lending. However, supporting the SME finance theories on the organizational advantages of small banks, we find that smaller banks provide more access to relationship loans to small firms, though such loans are usually more expensive.","PeriodicalId":125977,"journal":{"name":"ERN: Other Macroeconomics: Employment","volume":"87 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"120752548","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
E. Avraamova, Sergei Belyakov, Dmitriy Loginov, Elena Polushkina
Russian Abstract: Цель исследования состояла в выявлении и описании основных моделей поведения молодежных групп с разным уровнем профессионального образования на современном рынке труда, а также определении факторов, способствующих формированию соответствующих моделей поведения. Все участники исследования (молодые работники, работодатели, представители служб занятости), каждый со своих позиций, характеризуют проблему молодежной занятости не столько как проблему отсутствия вакансий для молодых, сколько как проблему отсутствия качественных вакансий, предполагающих постоянную занятость, приемлемый уровень оплаты труда, социальные гарантии. В этом смысле сопоставление численности безработной (незанятой) молодежи с числом вакансий, позволяющее делать оптимистические выводы, непродуктивно с точки зрения достижения целей социальной стабильности и развития человеческого капитала. English Abstract: The aim of the study was to identify and describe the main behavioral patterns of youth groups with different levels of professional education in the modern labor market, as well as identify factors that contribute to the formation of the behavioral patterns. All participants in the study (young workers, employers, representatives of employment services), each from their positions, characterize the problem of youth employment not only as a problem of the lack of vacancies for young people, but as a problem of the lack of quality vacancies, assuming permanent employment, an acceptable salary level, social guarantees. In this sense, comparing the number of unemployed youth with the number of vacancies, which allows making optimistic conclusions, is unproductive in terms of achieving the goals of social stability and the development of human capital.
俄罗斯Abstract:研究的目的是识别和描述现代劳动力市场不同职业教育程度的青年群体的基本行为模式，并确定产生相关行为模式的因素。研究的所有参与者(年轻工人、雇主、就业代表)，从他们的立场来看，都将青年就业问题描述为一个问题，与其说是年轻人的失业问题，不如说是长期就业、工资水平合适、社会保障问题。从这个意义上说，将失业(未就业)青年的数量与就业数量相比较，使他们能够得出乐观的结论，在实现社会稳定和人力资本发展目标方面效率低下。英语Abstract:这是一个以现代labor市场为基础的年轻一代的骄傲和堕落，就像一个受人尊敬的工厂一样。All参与者in the研究(young总工会、employers representatives of employment services),池from their位置characterize the problem of youth employment not only as a problem of the lack of vacancies for young people, but as a problem of vacancies, assuming the lack of quality永久employment, an acceptable social guarantees salary level。在这种感觉下，与vacancies一起编译“未被发现的青少年数字”，当allows制作了一个开创性的协作，是在社会地位地位和人类资本发展的基础上。
{"title":"Механизмы Трудоустройства Российской Молодежи (Mechanisms of Employment of Russian Youth)","authors":"E. Avraamova, Sergei Belyakov, Dmitriy Loginov, Elena Polushkina","doi":"10.2139/ssrn.2982340","DOIUrl":"https://doi.org/10.2139/ssrn.2982340","url":null,"abstract":"Russian Abstract: Цель исследования состояла в выявлении и описании основных моделей поведения молодежных групп с разным уровнем профессионального образования на современном рынке труда, а также определении факторов, способствующих формированию соответствующих моделей поведения. Все участники исследования (молодые работники, работодатели, представители служб занятости), каждый со своих позиций, характеризуют проблему молодежной занятости не столько как проблему отсутствия вакансий для молодых, сколько как проблему отсутствия качественных вакансий, предполагающих постоянную занятость, приемлемый уровень оплаты труда, социальные гарантии. В этом смысле сопоставление численности безработной (незанятой) молодежи с числом вакансий, позволяющее делать оптимистические выводы, непродуктивно с точки зрения достижения целей социальной стабильности и развития человеческого капитала. \u0000English Abstract: The aim of the study was to identify and describe the main behavioral patterns of youth groups with different levels of professional education in the modern labor market, as well as identify factors that contribute to the formation of the behavioral patterns. All participants in the study (young workers, employers, representatives of employment services), each from their positions, characterize the problem of youth employment not only as a problem of the lack of vacancies for young people, but as a problem of the lack of quality vacancies, assuming permanent employment, an acceptable salary level, social guarantees. In this sense, comparing the number of unemployed youth with the number of vacancies, which allows making optimistic conclusions, is unproductive in terms of achieving the goals of social stability and the development of human capital.","PeriodicalId":125977,"journal":{"name":"ERN: Other Macroeconomics: Employment","volume":"50 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-06-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134608493","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
An inaugural index is introduced to measure and track the well-being and happiness of Illinois’ citizens and workers. It draws on existing indicators and the happiness and well-being research literature. Similar to other such indexes, that quantify both objective and subjective well-being indicators, it contains 8 domains, but intentionally has more emphasis on measuring both the temperature and the climate for work and labor, and associated public policies. Each of the 8 categories has 10 components, from which an average is created for a composite figure. The HOW-IS-IL features the following domains: • Economy and Material Well Being. • Labor Market Performance. • Job Quality/Working Conditions (“Decent Work”). • Work-Life Balance and Uses of Time. • Mental/Psychological/Community/Social/Political, Health. • A Meta Ranking from available composite indicators. • The final two domains are intended to capture the “Worker-Friendliness” climate of the state, including employment laws and general commitment to human capital investment. The key findings are that Illinois ranks at the median among the 50 states. It would improve both its absolute and relative quality of life and work if: • The median household experiences continued gains in income, economic and employment activity and income distribution becomes less concentrated at the top of the income scale; • The labor market delivers lower unemployment and underemployment rates and hourly earnings disparity, while continuing to create more jobs than are destroyed; • Workplace practices and policies deliver more security regarding health, retirement and paid time off; • Part time and overtime working continues to be more voluntary than involuntary in nature, along with more daily schedule flexibility and restrained time spent commuting, to curb the increasing rate of work-family conflict in the region; • K-12 and higher education investments were equitable and increased. Adopting both private and public policies that enhance health benefit coverage and political system reforms would lift workers’ well-being. Also the implementation of at least seven worker-friendly policies and protections would convert Illinois from being follower to leader in the quest for improved job quality and lift Illinois into the top half of states for living and working in the United States.
{"title":"A Happiness and Objective Well-Being Index (HOW-IS-IL) for Living and Working in the State of Illinois, 2016-17","authors":"L. Golden","doi":"10.2139/SSRN.3044508","DOIUrl":"https://doi.org/10.2139/SSRN.3044508","url":null,"abstract":"An inaugural index is introduced to measure and track the well-being and happiness of Illinois’ citizens and workers. It draws on existing indicators and the happiness and well-being research literature. Similar to other such indexes, that quantify both objective and subjective well-being indicators, it contains 8 domains, but intentionally has more emphasis on measuring both the temperature and the climate for work and labor, and associated public policies. Each of the 8 categories has 10 components, from which an average is created for a composite figure. The HOW-IS-IL features the following domains: • Economy and Material Well Being. • Labor Market Performance. • Job Quality/Working Conditions (“Decent Work”). • Work-Life Balance and Uses of Time. • Mental/Psychological/Community/Social/Political, Health. • A Meta Ranking from available composite indicators. • The final two domains are intended to capture the “Worker-Friendliness” climate of the state, including employment laws and general commitment to human capital investment. The key findings are that Illinois ranks at the median among the 50 states. It would improve both its absolute and relative quality of life and work if: • The median household experiences continued gains in income, economic and employment activity and income distribution becomes less concentrated at the top of the income scale; • The labor market delivers lower unemployment and underemployment rates and hourly earnings disparity, while continuing to create more jobs than are destroyed; • Workplace practices and policies deliver more security regarding health, retirement and paid time off; • Part time and overtime working continues to be more voluntary than involuntary in nature, along with more daily schedule flexibility and restrained time spent commuting, to curb the increasing rate of work-family conflict in the region; • K-12 and higher education investments were equitable and increased. Adopting both private and public policies that enhance health benefit coverage and political system reforms would lift workers’ well-being. Also the implementation of at least seven worker-friendly policies and protections would convert Illinois from being follower to leader in the quest for improved job quality and lift Illinois into the top half of states for living and working in the United States.","PeriodicalId":125977,"journal":{"name":"ERN: Other Macroeconomics: Employment","volume":"4 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-05-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125695826","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
We investigate the impact of a substantial minimum wage increase, which became effective in January 2016, on consumer loans in Turkey. Using bank-level data and designing an original identification strategy, we ask whether the loans provided by banks with a historically high share of low-wage loan customers have increased relative to those provided by banks with a historically low share of low-wage loan customers after January 2016. Our results suggest that consumer loan flows have displayed a limited but statistically and economically meaningful increase following the minimum wage hike. This increase mostly comes from the increase in long-term general-purpose loans. Vehicle loans have also increased, while there is no change in housing loans. In the overall, the minimum wage hike has generated a moderate and transitory increase in the flow of consumer loans extended to low-wage earners in Turkey – perhaps due to delayed consumption effect. Consumption of durables, which can further increase household borrowing capacity through collateralized debt channel, has only slightly and temporarily increased. The underlying long-term trends in the stock of consumer loans have hardly changed.
{"title":"Consumer Loan Response to Permanent Labor Income Shocks: Evidence from a Major Minimum Wage Increase","authors":"I. Guney, Y. Hacıhasanoğlu, Semih Tumen","doi":"10.2139/ssrn.2964160","DOIUrl":"https://doi.org/10.2139/ssrn.2964160","url":null,"abstract":"We investigate the impact of a substantial minimum wage increase, which became effective in January 2016, on consumer loans in Turkey. Using bank-level data and designing an original identification strategy, we ask whether the loans provided by banks with a historically high share of low-wage loan customers have increased relative to those provided by banks with a historically low share of low-wage loan customers after January 2016. Our results suggest that consumer loan flows have displayed a limited but statistically and economically meaningful increase following the minimum wage hike. This increase mostly comes from the increase in long-term general-purpose loans. Vehicle loans have also increased, while there is no change in housing loans. In the overall, the minimum wage hike has generated a moderate and transitory increase in the flow of consumer loans extended to low-wage earners in Turkey – perhaps due to delayed consumption effect. Consumption of durables, which can further increase household borrowing capacity through collateralized debt channel, has only slightly and temporarily increased. The underlying long-term trends in the stock of consumer loans have hardly changed.","PeriodicalId":125977,"journal":{"name":"ERN: Other Macroeconomics: Employment","volume":"86 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-05-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124842224","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
David Autor, David Dorn, Lawrence F. Katz, Christina Patterson, J. Van Reenen
The fall of labor’s share of GDP in the United States and many other countries in recent decades is well documented but its causes remain uncertain. Existing empirical assessments typically rely on industry or macro data, obscuring heterogeneity among firms. In this article, we analyze micro panel data from the U.S. Economic Census since 1982 and document empirical patterns to assess a new interpretation of the fall in the labor share based on the rise of “superstar firms.” If globalization or technological changes push sales toward the most productive firms in each industry, product market concentration will rise as industries become increasingly dominated by superstar firms, which have high markups and a low labor share of value added. We empirically assess seven predictions of this hypothesis: (i) industry sales will increasingly concentrate in a small number of firms; (ii) industries where concentration rises most will have the largest declines in the labor share; (iii) the fall in the labor share will be driven largely by reallocation rather than a fall in the unweighted mean labor share across all firms; (iv) the between-firm reallocation component of the fall in the labor share will be greatest in the sectors with the largest increases in market concentration; (v) the industries that are becoming more concentrated will exhibit faster growth of productivity; (vi) the aggregate markup will rise more than the typical firm’s markup; and (vii) these patterns should be observed not only in U.S. firms but also internationally. We find support for all of these predictions.
{"title":"The Fall of the Labor Share and the Rise of Superstar Firms","authors":"David Autor, David Dorn, Lawrence F. Katz, Christina Patterson, J. Van Reenen","doi":"10.5167/UZH-143780","DOIUrl":"https://doi.org/10.5167/UZH-143780","url":null,"abstract":"The fall of labor’s share of GDP in the United States and many other countries in recent decades is well documented but its causes remain uncertain. Existing empirical assessments typically rely on industry or macro data, obscuring heterogeneity among firms. In this article, we analyze micro panel data from the U.S. Economic Census since 1982 and document empirical patterns to assess a new interpretation of the fall in the labor share based on the rise of “superstar firms.” If globalization or technological changes push sales toward the most productive firms in each industry, product market concentration will rise as industries become increasingly dominated by superstar firms, which have high markups and a low labor share of value added. We empirically assess seven predictions of this hypothesis: (i) industry sales will increasingly concentrate in a small number of firms; (ii) industries where concentration rises most will have the largest declines in the labor share; (iii) the fall in the labor share will be driven largely by reallocation rather than a fall in the unweighted mean labor share across all firms; (iv) the between-firm reallocation component of the fall in the labor share will be greatest in the sectors with the largest increases in market concentration; (v) the industries that are becoming more concentrated will exhibit faster growth of productivity; (vi) the aggregate markup will rise more than the typical firm’s markup; and (vii) these patterns should be observed not only in U.S. firms but also internationally. We find support for all of these predictions.","PeriodicalId":125977,"journal":{"name":"ERN: Other Macroeconomics: Employment","volume":"31 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122288779","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2017-03-13DOI: 10.13133/2037-3651_70.277_4
A. Bendinelli
Utilizzando un grande dataset rappresentante del mercato del lavoro italiano, l'articolo valuta le recenti riforme strutturali in Italia, in particolare il cosiddetto Jobs Act e uno schema su larga scala di sussidi all'occupazione. Usando tecniche di differenza nella differenza, l'autore mostra che le riforme hanno avuto un impatto positivo sul numero di contratti di lavoro a tempo indeterminato "standard" come parte dei nuovi contratti di lavoro. Tuttavia, non sara possibile sbrogliare l'impatto delle varie riforme prima di diversi anni. Using a large dataset representative of the Italian labour market, the article evaluates the recent structural reforms in Italy, especially the so-called Jobs Act and a large-scale scheme of employment subsidies. Using difference-in-difference techniques, the author shows that the reforms had a positive impact on the number of "standard" open-ended employment contracts as a share of new employment contracts. However, disentangling the impact of the various reforms will not be possible before several years. JEL: J08, J21, D04
{"title":"Incentivi Al Lavoro Permanente E Contratto a Tutele Crescenti: Un Approccio Controfattuale Alla Stima Dell’Impatto Sulle Assunzioni a Tempo Indeterminato Nel 2015 (Bonuses to Permanent Employment and the New Italian Employment Contract)","authors":"A. Bendinelli","doi":"10.13133/2037-3651_70.277_4","DOIUrl":"https://doi.org/10.13133/2037-3651_70.277_4","url":null,"abstract":"Utilizzando un grande dataset rappresentante del mercato del lavoro italiano, l'articolo valuta le recenti riforme strutturali in Italia, in particolare il cosiddetto Jobs Act e uno schema su larga scala di sussidi all'occupazione. Usando tecniche di differenza nella differenza, l'autore mostra che le riforme hanno avuto un impatto positivo sul numero di contratti di lavoro a tempo indeterminato \"standard\" come parte dei nuovi contratti di lavoro. Tuttavia, non sara possibile sbrogliare l'impatto delle varie riforme prima di diversi anni. Using a large dataset representative of the Italian labour market, the article evaluates the recent structural reforms in Italy, especially the so-called Jobs Act and a large-scale scheme of employment subsidies. Using difference-in-difference techniques, the author shows that the reforms had a positive impact on the number of \"standard\" open-ended employment contracts as a share of new employment contracts. However, disentangling the impact of the various reforms will not be possible before several years. JEL: J08, J21, D04","PeriodicalId":125977,"journal":{"name":"ERN: Other Macroeconomics: Employment","volume":"266 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-03-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116242772","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Integration of immigrants is at the forefront of policy concerns in many countries. This paper starts by documenting that in most European countries immigrants face significant labour market disadvantages relative to natives. Then it discusses how public policies may affect immigrants’ integration. First, we review the evidence on the effectiveness of language and introduction courses. Then, we discuss how different aspects of the migration policy framework may determine immigrants’ integration patterns. In particular, based on a review of the recent literature, we highlight the role of visa length and of predictability about migration duration in shaping migrants’ decisions on investments in country-specific human and social capital. Further, we discuss implications for refugee migration and also review the role of citizenship acquisition rules. The paper ends with an outlook of the consequences for sending countries.
{"title":"Integration of Immigrants in Host Countries - What We Know and What Works","authors":"T. Frattini","doi":"10.2139/ssrn.3085936","DOIUrl":"https://doi.org/10.2139/ssrn.3085936","url":null,"abstract":"Integration of immigrants is at the forefront of policy concerns in many countries. This paper starts by documenting that in most European countries immigrants face significant labour market disadvantages relative to natives. Then it discusses how public policies may affect immigrants’ integration. First, we review the evidence on the effectiveness of language and introduction courses. Then, we discuss how different aspects of the migration policy framework may determine immigrants’ integration patterns. In particular, based on a review of the recent literature, we highlight the role of visa length and of predictability about migration duration in shaping migrants’ decisions on investments in country-specific human and social capital. Further, we discuss implications for refugee migration and also review the role of citizenship acquisition rules. The paper ends with an outlook of the consequences for sending countries.","PeriodicalId":125977,"journal":{"name":"ERN: Other Macroeconomics: Employment","volume":"48 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122576630","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Italy's 2015 Annual Competition Law, if finally approved, provides for phasing out retail electricity price regulation, as well as the implementation of full retail liberalisation, from 1 July 2018. This is a significant reform, not just because it is consistent with the broader market design for electricity. Indeed, retail liberalisation is a qualifying element of the full integration of the European Union's electricity market. The full opening of retail markets provides a great opportunity for innovation, both on the demand side and on the supply side. This article investigates the theoretical background, and presents some empirical evidence, on the competition–innovation nexus in retail electricity markets.
{"title":"Competition and Innovation in Retail Electricity Markets: Evidence from Italy","authors":"C. Stagnaro","doi":"10.1111/ecaf.12216","DOIUrl":"https://doi.org/10.1111/ecaf.12216","url":null,"abstract":"Italy's 2015 Annual Competition Law, if finally approved, provides for phasing out retail electricity price regulation, as well as the implementation of full retail liberalisation, from 1 July 2018. This is a significant reform, not just because it is consistent with the broader market design for electricity. Indeed, retail liberalisation is a qualifying element of the full integration of the European Union's electricity market. The full opening of retail markets provides a great opportunity for innovation, both on the demand side and on the supply side. This article investigates the theoretical background, and presents some empirical evidence, on the competition–innovation nexus in retail electricity markets.","PeriodicalId":125977,"journal":{"name":"ERN: Other Macroeconomics: Employment","volume":"74 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"117769064","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
M. Claure, A. Leyton, Christian Valencia, Vanessa Sánchez, J. Dávalos
Economic theory suggests that minimum wages may lead to unemployment; nevertheless, empirical evidence in developed economies stays ambiguous. Evidence from developing countries is even more heterogenous due to the low law enforcement and weaker labor market institutions. Thus, our aim is to assess the impact of minimum wage increases on labor market outcomes in Bolivia, a country characterized by weak law compliance and high informality. Our identification strategy exploits differences in exposure to minimum wage increases across subsets of population for the period 2006-2013. Our results show positive and significant effects over real wages for men with no effects on employment, informalization or hours worked. Furthermore, we find evidence of gender discrimination since women are prone to suffer unemployment and informalization while not benefiting from higher real wages as men do.
{"title":"Evidence of the Impacts of Minimum Wages on Labor Market Outcomes: The Case of Bolivia","authors":"M. Claure, A. Leyton, Christian Valencia, Vanessa Sánchez, J. Dávalos","doi":"10.2139/ssrn.3163670","DOIUrl":"https://doi.org/10.2139/ssrn.3163670","url":null,"abstract":"Economic theory suggests that minimum wages may lead to unemployment; nevertheless, empirical evidence in developed economies stays ambiguous. Evidence from developing countries is even more heterogenous due to the low law enforcement and weaker labor market institutions. Thus, our aim is to assess the impact of minimum wage increases on labor market outcomes in Bolivia, a country characterized by weak law compliance and high informality. Our identification strategy exploits differences in exposure to minimum wage increases across subsets of population for the period 2006-2013. Our results show positive and significant effects over real wages for men with no effects on employment, informalization or hours worked. Furthermore, we find evidence of gender discrimination since women are prone to suffer unemployment and informalization while not benefiting from higher real wages as men do.","PeriodicalId":125977,"journal":{"name":"ERN: Other Macroeconomics: Employment","volume":"4 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132767149","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
M. Meena, Krishna M. Singh, R. Singh, Anjani Kumar, Abhay Kumar, V. Chahal
The study was undertaken to analyse the extent, diversity, inequality and determinants of income of rural households in Jharkhand-one of the most poverty stricken state of India. The study is based on the high frequency primary data collected from 160 rural households by resident investigators under the ICAR-ICRISAT collaborative project on “Tracking Changes in Rural Poverty in Household and Village Economies in South Asiaâ€. Both descriptive and quantitative methodologies were used to analyse the above issues. Tabular analysis was used to assess the level of income among different categories of rural households. While Herfindahl-Hirschman Index was used to assess the diversity of income sources, income inequality was measured by Ginni Ratio and Lorenz curve. Further, the linear regression model was used to identify the determinants of income of rural households in tribal dominated areas of the state. The study depicted a wide variation in the level of income among different categories of households with high and pervasive income inequality among them. Though the income inequality did not exhibit a consistent relationship with farm size, the extent of inequality was found highest among labour households. Education, adoption of high yielding varieties and access to non-farm income opportunities emerged as the significant determinants of income. These findings explicitly call for sustained efforts to create rural non-farm employment opportunities, promote adoption of modern agricultural technologies and enhance education among rural households in the study area.
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