Chapter

Introduction

James J. Heckman

Edited by Carmen Pagés

in Law and Employment

Published by University of Chicago Press

Published in print October 2004 | ISBN: 9780226322827
Published online March 2013 | e-ISBN: 9780226322858 | DOI: http://dx.doi.org/10.7208/chicago/9780226322858.003.0001
Introduction

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This book uses microdata from diverse Latin American and Caribbean countries to investigate the impact of regulation on their labor markets. Common methodologies are applied to extract empirical regularities from the region. Latin America and the Caribbean are of interest in their own right. But for several reasons, the lessons learned from studies of these labor markets have much greater generality. The shifts in the policy regimes experienced in the region are dramatic by the Organization for Economic Cooperation and Development (OECD) standards, and many of these regime shifts are exogenous. This large and exogenous variation provides identifying power not available to analysts studying regulation in Europe and North America. Given the evidence on the comparability of labor demand functions around the world, lessons about the impact of regulation learned from Latin American labor markets apply more generally.

Keywords: labor market; Latin America; Caribbean; OECD standards; labor demand functions; market regulation

Chapter.  34536 words.  Illustrated.

Subjects: Company and Commercial Law

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