Wage responsiveness and labor market disequilibrium

Ramon Lopez and Luis Riveros

No 85, Policy Research Working Paper Series from The World Bank

Abstract: The objectives of this paper are : (i) to empirically probe on the validity of the hypothesis that wages are relatively unresponsive to labor market disequlibrium; and (ii) to investigate whether the dramatically diverse rates of unemployment observed across certain Latin American countries obey fundamentally different wage dynamics or are the product of diversity in labor market distortions and other labor market policies. The indications found are that core unemployment may not affect market wages, whereas transient unemployment does. Policymaking should reflect the distinction.

Keywords: Environmental Economics&Policies; Youth and Governance; Economic Theory&Research; Labor Markets; Health Monitoring&Evaluation (search for similar items in EconPapers)
Date: 1988-09-30
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