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The effects of labour market reforms upon unemployment and income inequlities: an agent based model

Giovanni Dosi (), Marcelo Pereira, Andrea Roventini and Maria Enrica Virgillito ()

Sciences Po publications from Sciences Po

Abstract: This work analyses the effects of labour market structural reforms by means of the labour-augmented ‘Schumpeter meeting Keynes’ (KþS) Agent-Based model. We introduce a policy regime change characterized by a set of structural reforms on the labour market. Confirming a recent IMF report, the model shows how structural reforms reducing workers’ bargaining power and compressing wages tend to increase (a) unemployment, (b) functional income inequality and (c) personal income inequality. We further undertake a global sensitivity analysis on key variables and parameters which corroborates the robustness of our findings.

Keywords: Labor market; Structural reforms; Income distribution; Inequality; Unemployment; Growth (search for similar items in EconPapers)
JEL-codes: C63 E02 E12 E24 O11 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cmp, nep-hme, nep-mac and nep-pke
Date: 2017-12
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Published in Socio-Economic Review, 2017, vol. 0, pp.1-34

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Related works:
Working Paper: The effects of Labour Market Reforms upon Unemployment and Income Inequalities: an agent based model (2016) Downloads
Working Paper: The Effects of Labour Market Reforms upon Unemployment and Income Inequalities: an Agent Based Model (2016) Downloads
Working Paper: The Effects of Labour Market Reforms upon Unemployment and Income Inequalities: an Agent Based Model (2016) Downloads
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