Brazil: Labour Market Flexibility and Productivity, with Many Poor Jobs

José Márcio Camargo

Chapter 2 in Labour Productivity and Flexibility, 1997, pp 37-64 from Palgrave Macmillan

Abstract: Abstract Labour market behaviour is of great importance to the performance of the economy. It affects the volume of employment created, the rate of unemployment and of productivity growth, the degree of conflict between agents, the amount of investment in training and qualification, and many other important variables which, together, determine the economic performance of a country or region. Much of the behaviour of these variables is largely related to what labour market economists call ‘labour market flexibility.’ Flexibility itself is directly linked to the costliness of the adjustment to different economic conditions. If there were no adjustment cost, adaptation to external economic changes would take place instantaneously, and labour market flexibility would not be an issue. But adjustment costs are high and pervasive. So, adjustment takes time and flexibility will not be complete.

Keywords: Minimum Wage; Real Wage; Nominal Wage; Labour Contract; Severance Payment (search for similar items in EconPapers)
Date: 1997
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DOI: 10.1007/978-1-349-25977-9_2

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