This paper documents differences in firm size depending on whether their manager is a man or a woman and studies the aggregate implications of these gender gaps in Chile. We document that in 2007 less than a quarter of firms are managed by women and that this gap takes its largest value for managers with tertiary education or more. In terms of their number of workers, female-run firms are on average about three times smaller than those run by men. Moreover, the ratio of men to women managers is always above one, but it is much higher for large and medium firms than for small or micro ones. These differences remain significant after controlling for several manager and firm characteristics. We then use an extended version of the theoretical framework developed in Cuberes and Teignier (2016) to incorporate these facts and obtain quantitative predictions about their effects on aggregate productivity and income in Chile. We find that the observed gender gaps in entrepreneurship in Chile generate a fall in aggregate productivity and aggregate income of 7.5%.
{"title":"Size-Dependent Gender Gaps in Entrepreneurship: The Case of Chile*","authors":"David Cuberes, Marc Teignier","doi":"10.47872/laer.v31.32","DOIUrl":"https://doi.org/10.47872/laer.v31.32","url":null,"abstract":"This paper documents differences in firm size depending on whether their manager is a man or a woman and studies the aggregate implications of these gender gaps in Chile. We document that in 2007 less than a quarter of firms are managed by women and that this gap takes its largest value for managers with tertiary education or more. In terms of their number of workers, female-run firms are on average about three times smaller than those run by men. Moreover, the ratio of men to women managers is always above one, but it is much higher for large and medium firms than for small or micro ones. These differences remain significant after controlling for several manager and firm characteristics. We then use an extended version of the theoretical framework developed in Cuberes and Teignier (2016) to incorporate these facts and obtain quantitative predictions about their effects on aggregate productivity and income in Chile. We find that the observed gender gaps in entrepreneurship in Chile generate a fall in aggregate productivity and aggregate income of 7.5%.","PeriodicalId":43785,"journal":{"name":"Latin American Economic Review","volume":"54 1","pages":""},"PeriodicalIF":0.5,"publicationDate":"2022-02-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83302155","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
I. Brambilla, A. César, Guillermo Falcone, Leonardo Gasparini
New automation technologies affect workers in a heterogeneous manner according to their demographic characteristics, skills, and the tasks they perform. In this paper we study the effects of automation on labor market outcomes in a developing country, Chile. We focus our analysis on the heterogeneous impacts of automation across cohorts. Does automation affect young workers differently than older workers? Do young workers tend to perform routine tasks? Are young workers in routine occupations more exposed to negative effects of technology? Our empirical strategy is based on exploiting differences in the routinization of tasks across districts and occupations and a change in the trend of automation technology adoption in Chile. We find that young workers are more easily displaced by automation than older workers of similar characteristics. At the same time, cohorts of young workers are more skilled and more mobile than older workers, which implies that they have good prospects of working in complement with automation technology in the near future. The young and unskilled are the most vulnerable group of workers.
{"title":"Automation and the jobs of young workers","authors":"I. Brambilla, A. César, Guillermo Falcone, Leonardo Gasparini","doi":"10.47872/laer.v31.62","DOIUrl":"https://doi.org/10.47872/laer.v31.62","url":null,"abstract":"New automation technologies affect workers in a heterogeneous manner according to their demographic characteristics, skills, and the tasks they perform. In this paper we study the effects of automation on labor market outcomes in a developing country, Chile. We focus our analysis on the heterogeneous impacts of automation across cohorts. Does automation affect young workers differently than older workers? Do young workers tend to perform routine tasks? Are young workers in routine occupations more exposed to negative effects of technology?\u0000Our empirical strategy is based on exploiting differences in the routinization of tasks across districts and occupations and a change in the trend of automation technology adoption in Chile. We find that young workers are more easily displaced by automation than older workers of similar characteristics. At the same time, cohorts of young workers are more skilled and more mobile than older workers, which implies that they have good prospects of working in complement with automation technology in the near future. The young and unskilled are the most vulnerable group of workers.","PeriodicalId":43785,"journal":{"name":"Latin American Economic Review","volume":"51 1","pages":""},"PeriodicalIF":0.5,"publicationDate":"2022-02-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83280727","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Renato Santiago, J. Fuinhas, Matheus Koengkan, António Cardoso Marques
The effects that the Latin America and Caribbean capital stock (public and private) had on the income inequality levels of 18 countries from this region were analysed, over a period ranging from 1995 to 2017, recurring to an autoregressive distributed lag model in the form of an unrestricted error correction model. The results from the three models that were estimated (with the total capital stock, the public capital stock, and the private capital stock) pointed for the existence of an enhancing effect from the capital stock (public and private) on the income inequality of these countries in the short-run, suggesting that the investments were made in the already richer/wealthiest areas. In the long-run, the effects of capital stock on income inequality seem to vanish, probably due to the efforts to correct the previous detrimental effect. However, the lack of a statistically significant impact shows that, although the efforts, capital stock (public and private) still does not contribute to the income inequality reduction, meaning that these countries should improve/change the management and the selection criteria of their physical capital investments to be able to reduce their income gap.
{"title":"What effect does public and private capital have on income inequality? The case of the Latin America and Caribbean region","authors":"Renato Santiago, J. Fuinhas, Matheus Koengkan, António Cardoso Marques","doi":"10.47872/laer.v31.36","DOIUrl":"https://doi.org/10.47872/laer.v31.36","url":null,"abstract":"The effects that the Latin America and Caribbean capital stock (public and private) had on the income inequality levels of 18 countries from this region were analysed, over a period ranging from 1995 to 2017, recurring to an autoregressive distributed lag model in the form of an unrestricted error correction model. The results from the three models that were estimated (with the total capital stock, the public capital stock, and the private capital stock) pointed for the existence of an enhancing effect from the capital stock (public and private) on the income inequality of these countries in the short-run, suggesting that the investments were made in the already richer/wealthiest areas. In the long-run, the effects of capital stock on income inequality seem to vanish, probably due to the efforts to correct the previous detrimental effect. However, the lack of a statistically significant impact shows that, although the efforts, capital stock (public and private) still does not contribute to the income inequality reduction, meaning that these countries should improve/change the management and the selection criteria of their physical capital investments to be able to reduce their income gap.","PeriodicalId":43785,"journal":{"name":"Latin American Economic Review","volume":"7 1","pages":""},"PeriodicalIF":0.5,"publicationDate":"2022-02-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76531507","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Tatiana Cantillo, Víctor Cantillo, Lucy E. García, Victor Cantillo-García
The paper aims to assess the wage differential that would induce workers to switch between informal and formal sectors, analysing the informal labour market in the Colombian Caribbean region. Relying on the theory of equalising differences, we uncover which workers perceive the highest utility from holding a formal job. Our research sheds light on how workers derive utility from formal and informal job sectors' benefits and to which extent informal workers are willing to accept a lower (or higher) wage to get a job in the formal sector. We also analyse the factors increasing the likelihood to seek employment in the formal sector. Results suggest that, on average, informal workers in the study region are willing to switch to a formal job only if they are offered a salary higher than their current income but are also willing to accept a salary slightly lower than the legal minimum wage in the formal sector. Finally, perceptions of benefits from formal and informal jobs vary with the socio-economic characteristics of individuals, especially by education level and previous work experience.
{"title":"Uncovering the wage differential between formal and informal jobs: Analysis from the Colombian Caribbean region","authors":"Tatiana Cantillo, Víctor Cantillo, Lucy E. García, Victor Cantillo-García","doi":"10.47872/laer.v31.24","DOIUrl":"https://doi.org/10.47872/laer.v31.24","url":null,"abstract":"The paper aims to assess the wage differential that would induce workers to switch between informal and formal sectors, analysing the informal labour market in the Colombian Caribbean region. Relying on the theory of equalising differences, we uncover which workers perceive the highest utility from holding a formal job. Our research sheds light on how workers derive utility from formal and informal job sectors' benefits and to which extent informal workers are willing to accept a lower (or higher) wage to get a job in the formal sector. We also analyse the factors increasing the likelihood to seek employment in the formal sector. Results suggest that, on average, informal workers in the study region are willing to switch to a formal job only if they are offered a salary higher than their current income but are also willing to accept a salary slightly lower than the legal minimum wage in the formal sector. Finally, perceptions of benefits from formal and informal jobs vary with the socio-economic characteristics of individuals, especially by education level and previous work experience.","PeriodicalId":43785,"journal":{"name":"Latin American Economic Review","volume":"39 1","pages":""},"PeriodicalIF":0.5,"publicationDate":"2022-01-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76582647","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Alan Hernández-Soto, Jhair López-López, A. Yúnez-Naude, Yatziry Govea-Vargas
The health crisis caused by the spread of COVID-19 has caused a profound social and economic disruption in Mexico. Our purpose in this paper is to contribute to the knowledge about the economic impact of the pandemic in Mexico and to evaluate social policy options to mitigate its effects. We do so based on a multisectoral-multiplier model and the most recent Social Accounting Matrix for Mexico, with which we estimate the direct and indirect impacts of COVID-19 as well the likely effects of two alternatives for mitigating them: an unconditional cash transfer scheme for households living in poverty, and the establishment of an unemployment insurance program for workers who have lost their jobs during the pandemic. We find that the first alternative alleviates more value added and loss of income, and thus has a greater effect in reducing inequality and the incidence of poverty.
{"title":"Socioeconomic Effects of COVID-19 in Mexico: A Multisectoral Approach and Policy Options","authors":"Alan Hernández-Soto, Jhair López-López, A. Yúnez-Naude, Yatziry Govea-Vargas","doi":"10.47872/laer.v31.67","DOIUrl":"https://doi.org/10.47872/laer.v31.67","url":null,"abstract":"The health crisis caused by the spread of COVID-19 has caused a profound social and economic disruption in Mexico. Our purpose in this paper is to contribute to the knowledge about the economic impact of the pandemic in Mexico and to evaluate social policy options to mitigate its effects. We do so based on a multisectoral-multiplier model and the most recent Social Accounting Matrix for Mexico, with which we estimate the direct and indirect impacts of COVID-19 as well the likely effects of two alternatives for mitigating them: an unconditional cash transfer scheme for households living in poverty, and the establishment of an unemployment insurance program for workers who have lost their jobs during the pandemic. We find that the first alternative alleviates more value added and loss of income, and thus has a greater effect in reducing inequality and the incidence of poverty.","PeriodicalId":43785,"journal":{"name":"Latin American Economic Review","volume":"17 1","pages":""},"PeriodicalIF":0.5,"publicationDate":"2022-01-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87396827","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The COVID-19 pandemic not only generated real shocks affecting economic activity severely, but also a broad uncertainty that unleashed an extreme shock to financial markets. In this paper, we focus on the financial dimension of the pandemic from the viewpoint of an emerging market economy. Accordingly, we estimate a financial conditions index for Mexico since 1993 and find that the acute turmoil generated by the pandemic stands among the four largest episodes of financial distress experienced by the country. In addition, we find evidence suggesting that real variables have responded differently to shocks that worsen financial conditions than to shocks that improve them.
{"title":"The COVID-19 Economic Crisis in Mexico through the Lens of a Financial Conditions Index","authors":"J. Carrillo, Ana Laura García","doi":"10.47872/laer.v30.41","DOIUrl":"https://doi.org/10.47872/laer.v30.41","url":null,"abstract":"The COVID-19 pandemic not only generated real shocks affecting economic activity severely, but also a broad uncertainty that unleashed an extreme shock to financial markets. In this paper, we focus on the financial dimension of the pandemic from the viewpoint of an emerging market economy. Accordingly, we estimate a financial conditions index for Mexico since 1993 and find that the acute turmoil generated by the pandemic stands among the four largest episodes of financial distress experienced by the country. In addition, we find evidence suggesting that real variables have responded differently to shocks that worsen financial conditions than to shocks that improve them.","PeriodicalId":43785,"journal":{"name":"Latin American Economic Review","volume":"30 1","pages":""},"PeriodicalIF":0.5,"publicationDate":"2021-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87150598","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Celso J. Costa Junior, Alejandro C. García-Cintado, M. Hidalgo-Pérez
This paper aims to shed additional light on the existence of opportunistic and partisan political-business cycles in the Brazilian economy over the 1996-2016 period. To that end, it relies on two different approaches: (I) an Oaxaca model in the spirit of Blinder and Watson (2016); and (II) a DSGE model where fiscal and monetary policies are treated as political- regime dependent (Milani, 2010). By and large, our results from both exercises show that there existed an opportunistic behavior by all the governments studied as regards fiscal policy, and that political ideology played a role in shaping macroeconomic policies in some of the administrations that ran the country within the time span considered. Specifically, as our DSGE exercise illustrates, President Dilma Rouseff’s fiscal management differed significantly from previous governments’. In ad¬dition, we do not find any evidence of political business cycle of any type when it comes to monetary policy, in line with what the consensus in this literature states for the case of Brazil.
本文旨在进一步阐明1996-2016年期间巴西经济中存在的机会主义和党派政治-商业周期。为此，它依赖于两种不同的方法:(I)基于Blinder and Watson(2016)精神的瓦哈卡模式;(II) DSGE模型，其中财政和货币政策被视为依赖于政治制度(Milani, 2010)。总的来说，我们的两个练习的结果都表明，在财政政策方面，所有被研究的政府都存在机会主义行为，而且在所考虑的时间跨度内，政治意识形态在塑造一些管理国家的政府的宏观经济政策方面发挥了作用。具体而言，正如我们的DSGE演习所显示的那样，总统迪尔玛•罗塞夫(Dilma rousseff)的财政管理与前几届政府有很大不同。此外，在货币政策方面，我们没有发现任何类型的政治商业周期的证据，这与本文献中对巴西情况的共识一致。
{"title":"Political Cycles in Latin America: More Evidence on the Brazilian Economy","authors":"Celso J. Costa Junior, Alejandro C. García-Cintado, M. Hidalgo-Pérez","doi":"10.47872/laer.v30.28","DOIUrl":"https://doi.org/10.47872/laer.v30.28","url":null,"abstract":"This paper aims to shed additional light on the existence of opportunistic and partisan political-business cycles in the Brazilian economy over the 1996-2016 period. To that end, it relies on two different approaches: (I) an Oaxaca model in the spirit of Blinder and Watson (2016); and (II) a DSGE model where fiscal and monetary policies are treated as political- regime dependent (Milani, 2010). By and large, our results from both exercises show that there existed an opportunistic behavior by all the governments studied as regards fiscal policy, and that political ideology played a role in shaping macroeconomic policies in some of the administrations that ran the country within the time span considered. Specifically, as our DSGE exercise illustrates, President Dilma Rouseff’s fiscal management differed significantly from previous governments’. In ad¬dition, we do not find any evidence of political business cycle of any type when it comes to monetary policy, in line with what the consensus in this literature states for the case of Brazil.","PeriodicalId":43785,"journal":{"name":"Latin American Economic Review","volume":"33 1","pages":""},"PeriodicalIF":0.5,"publicationDate":"2021-11-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82725578","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
G. Caruso, Lautaro Chittaro, M. Cucagna, Luis Pedro Espana
Policy responses to COVID-19 affected the dynamic of eco¬nomic growth and labor markets worldwide, hitting econom¬ically harder on developing countries. These policies involved economic lockdowns that included the shutdown of the main statistical exercises, making it almost impossible to assess the breadth and variety of their effects. Using a phone survey, this paper examines the impact of the quarantine implemented in Venezuela on labor market outcomes. The identification strategy exploits the exogenous variation in the severity of the lockdown in different regions of the country. The main result indicates a 16.5 percentage points reduction in employment, while in regions with severe lockdowns the reduction has been 13.8 p.p. larger. In particular, the self-employed and informal¬ly employed were hard hit by the lockdown. To cope with this effect, households sold their productive assets, reduced their savings, sought for alternative income sources and looked for help from relatives. This paper does not find a differential ef¬fect on the number of COVID-19 cases in more severe lock¬down settings. Results are robust to endogenous migration and alternative specifications.
{"title":"From bad to worse: The economic impact of COVID-19 in developing countries. Evidence from Venezuela","authors":"G. Caruso, Lautaro Chittaro, M. Cucagna, Luis Pedro Espana","doi":"10.47872/laer.v30.38","DOIUrl":"https://doi.org/10.47872/laer.v30.38","url":null,"abstract":"Policy responses to COVID-19 affected the dynamic of eco¬nomic growth and labor markets worldwide, hitting econom¬ically harder on developing countries. These policies involved economic lockdowns that included the shutdown of the main statistical exercises, making it almost impossible to assess the breadth and variety of their effects. Using a phone survey, this paper examines the impact of the quarantine implemented in Venezuela on labor market outcomes. The identification strategy exploits the exogenous variation in the severity of the lockdown in different regions of the country. The main result indicates a 16.5 percentage points reduction in employment, while in regions with severe lockdowns the reduction has been 13.8 p.p. larger. In particular, the self-employed and informal¬ly employed were hard hit by the lockdown. To cope with this effect, households sold their productive assets, reduced their savings, sought for alternative income sources and looked for help from relatives. This paper does not find a differential ef¬fect on the number of COVID-19 cases in more severe lock¬down settings. Results are robust to endogenous migration and alternative specifications.","PeriodicalId":43785,"journal":{"name":"Latin American Economic Review","volume":"24 Suppl 1","pages":""},"PeriodicalIF":0.5,"publicationDate":"2021-10-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89842747","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
We provide empirical evidence supporting a causal link between education and risk attitudes when using representative data from representative surveys and artefactual or lab-on-the-field experiments in Lima, Peru. We employ three standard experimental measures of risk attitudes and find that each is positively correlated with years of education. Furthermore, we suggest that this relationship may be causal as we take advantage of an identification strategy that exploits an exogenous boom in the construction of new schools in Lima, providing evidence that more education may increase risk attitudes. Our findings are further confirmed when applying a broad set of robustness tests.
{"title":"Does Education Increase Risk Aversion in Households? \u0000Some Evidence Using Artefactual Experiments in Peru","authors":"Alberto Chong, Joan J Martinez","doi":"10.47872/laer.v30.22","DOIUrl":"https://doi.org/10.47872/laer.v30.22","url":null,"abstract":"We provide empirical evidence supporting a causal link between education and risk attitudes when using representative data from representative surveys and artefactual or lab-on-the-field experiments in Lima, Peru. We employ three standard experimental measures of risk attitudes and find that each is positively correlated with years of education. Furthermore, we suggest that this relationship may be causal as we take advantage of an identification strategy that exploits an exogenous boom in the construction of new schools in Lima, providing evidence that more education may increase risk attitudes. Our findings are further confirmed when applying a broad set of robustness tests.","PeriodicalId":43785,"journal":{"name":"Latin American Economic Review","volume":"76 1","pages":""},"PeriodicalIF":0.5,"publicationDate":"2021-09-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85784404","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
D. Cristiano-Botia, Manuel Darío Hernández-Bejarano, Mario A. Ramos-Veloza
Although the unemployment rate is traditionally used to diagnose the current state of the labor market, this indicator does not reflect the existence of asymmetries, mobility costs, and rigidities which impede labor to freely flow over the business cycle. Thus, to get a better portrait of the momentum, we construct the Labor Market Indicator (LMI) focusing on the cyclical similarities of eighteen time series from the Colombian household, industrial, and opinion surveys between 2001 and 2019. Our indicator summarizes the growth cycle of the labor market and its evolution is closely related to the output and unemployment GAP. This indicator is useful for policy analysis as it is useful to forecast headline inflation, it also complements the diagnosis of the current momentum of the labor market, the general economic activity, and the characterization of economic phases and turning points.
{"title":"Labor Market Indicator for Colombia","authors":"D. Cristiano-Botia, Manuel Darío Hernández-Bejarano, Mario A. Ramos-Veloza","doi":"10.47872/laer-2021-30-4","DOIUrl":"https://doi.org/10.47872/laer-2021-30-4","url":null,"abstract":"Although the unemployment rate is traditionally used to diagnose the current state of the labor market, this indicator does not reflect the existence of asymmetries, mobility costs, and rigidities which impede labor to freely flow over the business cycle. Thus, to get a better portrait of the momentum, we construct the Labor Market Indicator (LMI) focusing on the cyclical similarities of eighteen time series from the Colombian household, industrial, and opinion surveys between 2001 and 2019. Our indicator summarizes the growth cycle of the labor market and its evolution is closely related to the output and unemployment GAP. This indicator is useful for policy analysis as it is useful to forecast headline inflation, it also complements the diagnosis of the current momentum of the labor market, the general economic activity, and the characterization of economic phases and turning points.","PeriodicalId":43785,"journal":{"name":"Latin American Economic Review","volume":"10 1","pages":""},"PeriodicalIF":0.5,"publicationDate":"2021-06-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76370017","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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