Chapter

Labor Demand in Latin America and the Caribbean: What Does It Tell Us?

Daniel S. Hamermesh

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/9780226322858.003.0012
Labor Demand in Latin America and the Caribbean: What Does It Tell Us?

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No single study of an economic phenomenon, or even several studies, is ever highly convincing, because one can worry about the representativeness of the example and particular problems with the research design. The results of recent Latin American and Caribbean studies, however, based as they are on labor markets that have not been thoroughly examined using modern econometric techniques and that have been characterized by relatively large shocks, should reinforce our confidence about the negative impact on employment of higher labor costs, both payroll costs and job market regulations. They should remind policymakers that in developing economies, as in developed ones, policies that may be socially desirable, but that raise labor costs or increase labor market rigidity, have negative consequences for the level of employment.

Keywords: labor demand; Latin America; Caribbean; labor market; research design; labor costs; employment level

Chapter.  3915 words. 

Subjects: Company and Commercial Law

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