IMF Staff Papers Vol. 48 No. 3, 2001
نویسندگان
چکیده
The paper studies the employment effects of a deposit-refund scheme on labor in a simple search-theoretic model of the labor market. It is shown that if a firm pays a deposit when it fires a worker, to be refunded when it employs the same or another worker, the vacancy rate increases and the unemployment rate declines. The scheme introduces rigidities in the labor market, however, which may be undesirable in countries wanting to liberalize their labor markets. [JEL J3, J68]
منابع مشابه
IMF Staff Papers Vol. 48 No. 3, 2001
This paper quantifies the impact of changes in U.S. monetary policy on sovereign bond spreads in emerging market countries. Specifically, the paper explores empirically how country risk, as proxied by sovereign bond spreads, is influenced by U.S. monetary policy, country-specific fundamentals, and conditions in global capital markets. While country-specific fundamentals are important in explain...
متن کاملIMF Staff Papers, Vol,48 Special Issue, 2001
This paper attempts to portray a synthesis of what has been learned in the past 10 years with regard to the transition process. It contrasts the mainstream “Washington consensus” view of transition with the “evolutionary institutionalist” perspective. It argues that the latter gives a more adequate and complete picture both of the transition processes and of economic systems and is of better he...
متن کاملIMF Staff Papers, Vol,48 Special Issue, 2001
This essay reflects the thoughts and experience of two staff members. Mark Allen has been a resident representative in both Poland (1990–93) and Hungary (1996–1998), two countries that have moved well along the road of transformation. Rick Haas was the resident representative in Belarus (1996–98), a country where much remains to be done. In some respects they had similar experiences, in others ...
متن کاملIMF Staff Papers, Vol,48 Special Issue, 2001
The decline in cash revenue in Russia has been the key macroeconomic policy failure of the transition. During 1994–98, a sharp deterioration in cash compliance was offset by a rise in non-cash revenue, as the government increasingly financed its spending through mutual arrears write-offs. This paper argues that the fall in cash compliance emerged when money printing was replaced with a method o...
متن کاملIMF Staff Papers, Vol,48 Special Issue, 2001
In China, local governments have actively contributed to the growth of new firms. In Russia, local governments have typically stood in the way, be it through taxation, regulation, or corruption. We argue that the difference can be traced to lies in the degree of political centralization present in China, but not in Russia. In China the central government has been strong and disciplined enough t...
متن کامل