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Acknowledgments xiii
About the Editors xv
Introduction and Overview Pierre-Richard Agenor Alejandro Izquierdo Henning Tarp Jensen 1
The Analytics of Segmented Labor Markets Pierre-Richard Agenor 8
Overview of Labor Markets 9
Basic Structure 9
Composition of Employment 11
Public Sector Pay and Employment 12
Labor Market Institutions and Regulations 13
Unemployment 22
Urban Labor Mobility and the Harris-Todaro Framework 24
Wage Formation in the Formal Sector 27
Efficiency Wages 28
Trade Unions 42
Bilateral Bargaining 44
Job Search 45
Adverse Selection Models 47
A Shirking Model with Segmented Markets 47
The Economy 48
Equilibrium with Skilled Unemployment 51
Labor Mobility and Unskilled Unemployment 56
Increase in the Minimum Wage 59
Concluding Remarks 62
The Impact of a Change in the Minimum Wage 63
The Macroeconomics of Poverty Reduction Pierre-Richard Agenor 67
A Distorted Agenda 69
A Topic Neglected by Macroeconomists 69
An Excessive Focus on Micro Aspects and Measurement Issues 72
The Confusion over "Pro-Poor Growth" 73
Transmission of Macro Shocks to the Poor 79
The Central Role of the Labor Market 79
Changes in Aggregate Demand 80
Expenditure Deflators and Inflation 81
The Real Exchange Rate and the Supply Side 82
Macroeconomic Volatility 83
Growth and Distributional Effects 84
Recessions and Crises: Asymmetric Effects 85
Theoretical Models for Poverty Analysis 86
A Two-Household Framework 86
Equilibrium 92
Cut in Government Spending 94
Some Research Directions 96
Poverty Traps 96
Asymmetric Effects of Output Shocks 100
Welfare Costs of Macroeconomic Volatility 100
Unemployment-Poverty Trade-offs 101
Can Redistribution Hurt the Poor? 102
Concluding Remarks 104
Asymmetric Effects of Output Shocks 106
Dynamic Structure and Stability Conditions 108
The Mini Integrated Macroeconomic Model for Poverty Analysis Pierre-Richard Agenor 110
Structure of Mini-IMMPA 113
Production 113
The Labor Market 116
Supply and Demand 125
External Trade 126
Prices 127
Profits and Income 129
Private Consumption and Savings 130
Private Investment 130
Public Sector 132
Balance of Payments 133
Poverty and Distributional Effects 136
Policy Experiments 138
Reduction in the Minimum Wage 139
Cut in Payroll Taxes on Unskilled Labor 148
Conclusions 169
Calibration and Parameter Values 171
Unemployment and Labor Market Policies in Morocco Pierre-Richard Agenor Karim El Aynaoui 178
The Labor Market in Morocco 180
Basic Structure 180
Employment, Unemployment, and the Returns to Education 181
Regulatory and Institutional Features 185
Wage Flexibility 188
Domestic and International Labor Migration 189
Constraints and Challenges 191
A Quantitative Framework 193
Production 193
Wages, Employment, Migration, and Skills Acquisition 197
Supply and Demand 204
External Trade 206
Prices 206
Profits and Income 208
Consumption, Savings, and Investment 210
Government 211
Balance of Payments 213
Policy Experiments 214
Cut in the Minimum Wage 214
Reduction in Payroll Taxes on Unskilled Labor 221
Concluding Remarks 228
Calibration and Parameter Values 230
The Complete IMMPA Framework for Low-Income Countries Pierre-Richard Agenor Alejandro Izquierdo Hippolyte Fofack 234
Model Structure 236
Production 236
Wage Formation, Employment, Migration, and Skills Acquisition 240
Supply and Demand 248
External Trade 250
Prices 250
Profits and Income 253
Savings, Consumption, and Investment 255
Financial Sector 257
Public Sector 262
Poverty and Income Distribution Indicators 267
Calibration 275
Initial Values 275
Parameter Values 277
Some Illustrative Experiments 277
Terms-of-Trade Shock 278
Cut in Domestic Credit to Government 289
Debt Reduction and Expenditure Reallocation 299
Conclusions 327
Stabilization Policy, Poverty, and Unemployment in Brazil Pierre-Richard Agenor Reynaldo Fernandes Eduardo Haddad Henning Tarp Jensen 329
An IMMPA Framework for Brazil 331
Production 332
Wages, Employment, Migration, and Skills Acquisition 334
Supply and Demand 339
External Trade 340
Prices 341
Profits and Income 343
Savings, Financial Wealth, and Investment 344
Asset Allocation and the Financial Sector 345
Public Sector 349
Balance of Payments and the Exchange Rate 353
Currency and Bond Market Equilibrium 354
Poverty and Income Distribution Indicators 355
Calibration and Survey Characteristics 359
Stabilization, Unemployment, and Poverty 359
Concluding Remarks 371
Calibration and Parameter Values 373
Disinflation, Fiscal Sustainability, and Labor Market Adjustment in Turkey Pierre-Richard Agenor Henning Tarp Jensen Mathew Verghis Erinc Yeldan 383
Structure of the Model 388
Production 388
The Labor Market 391
Export Supply and Import Demand 400
Aggregate Supply and Demand 400
Profits and Income 401
Savings and Wealth Accumulation 404
Private Investment 405
Asset Allocation and the Credit Market 408
Public Sector 417
The Balance of Payments and the Exchange Rate 419
Currency and Bond Market Equilibrium 420
Price Determination 421
Default Risk, Credibility, and Expectations 423
Calibration and Solution 426
Policy Experiments 426
Increase in Official Interest Rates 427
Fiscal Adjustment 437
Concluding Remarks 454
Calibration and Parameter Values 456
Linking Representative Household Models with Household Surveys for Poverty Analysis: A Comparison of Alternative Methodologies Pierre-Richard Agenor Derek H. C. Chen Michael Grimm 465
Macro-RHG Models and Poverty Analysis 466
Linking Income Survey Data with Macro-RHG Models 467
A Simple Micro-Accounting Method 468
An Extension with Reweighting Techniques 470
The Use of Distribution Functions 472
The Macro-RHG Framework 476
Production and the Labor Market 476
Composition of Demand and Prices 478
Profits and Income 478
Investment-Savings Balance 479
Public Sector and the Balance of Payments 479
Comparing Policy Shocks with Alternative Linkages 479
Reduction in the Minimum Wage 480
Increase in Employment Subsidies 491
Conclusions 502
Reweighting when Using Real Survey Data 504
Estimated Shape Parameters and Fitted Poverty Measures with Beta Distribution Functions 505
Some Research Perspectives Pierre-Richard Agenor Alejandro Izquierdo Henning Tarp Jensen 509
Labor Market Structure and Policies 510
Macroeconomic Effects of Foreign Aid 511
Public Investment, Growth, and Congestion Costs 513
Linking Macro Models and Surveys 515
References 519
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Jesse Ellis
reviewed Adjustment Policies, Poverty and Unemployment: The IMMPA Framework on February 11, 2018 Adjustment Policies, Poverty and Unemployment: The IMMPA Framework
I have a bachelor degree in International Studies and almost have a masters degree in International Economics, both entailed subjects about statistical analysis, yet here was I still unable to do a simple research. As I felt ashamed by my ignorance I decided to pick up this book at the publisher's sale for a great price. Best decision I made in a long time.
If you meticulously go through the book you will understand the relationship between two variables (correlation) and more than two variables (regression). The book mainly concerns these two models and their intricacies, with an emphasis on regression and time-series data. The main catch the author offers is that you don't need deep mathematical knowledge to either do or understand these kinds of operations, it can be understood logically or by common sense. He mostly delivers on this promise (sometimes the lack of maths make some explanations confusing, but this is the price to pay) so anyone can pick this up and understand it.
The explanations are clear, the exercises are on par with your understanding and help to prove the underlying concepts. The whole arch of the book is so that you gradually, without even noticing, start doing much more lifelike and interesting problems, building on the previously learnt knowledge.
If you ever need to do some research with data and don't know how this book is a great help and you don't need to stress yourself with the difficult math that makes it all work if you don't want to (although the author admits that in order to achieve full understanding, and some difficult problems will require you to pick up more comprehensive books).
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Add Adjustment Policies, Poverty and Unemployment: The IMMPA Framework, Pierre-Richard Agenor's pioneering work on Integrated Macroeconomics Models for Poverty Analysis (IMMPA) is cataloged for the first time in this must-read volume. A class of dynamic computable general equilibrium models, IMMPA models are designed to an, Adjustment Policies, Poverty and Unemployment: The IMMPA Framework to the inventory that you are selling on WonderClubX
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Add Adjustment Policies, Poverty and Unemployment: The IMMPA Framework, Pierre-Richard Agenor's pioneering work on Integrated Macroeconomics Models for Poverty Analysis (IMMPA) is cataloged for the first time in this must-read volume. A class of dynamic computable general equilibrium models, IMMPA models are designed to an, Adjustment Policies, Poverty and Unemployment: The IMMPA Framework to your collection on WonderClub |