Hidden Bibliographic Details
| Other authors / contributors: | Urrutia, Carlos Dr, author.
IMF Institute, issuing body.
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| ISBN: | 1283560895
9781283560894
9781463927271
1463927274
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| Notes: | At head of title: IMF Institute.
"December 2011."
Title from PDF title page (IMF Web site, viewed December 16, 2011).
Includes bibliographical references (pages 32-35).
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| Summary: | "We build a small open economy, real business cycle model with labor market frictions to evaluate the role of employment protection in shaping business cycles in emerging economies. The model features matching frictions and an endogenous selection effect by which inefficient jobs are destroyed in recessions. In a quantitative version of the model calibrated to the Mexican economy we find that reducing separation costs to a level consistent with developed economies would reduce output volatility by 15 percent. We also use the model to analyze the Mexican crisis episode of 2008 and conclude that an economy with lower separation costs would have experienced a smaller drop in output and in measured total factor productivity with no significant change in aggregate employment"--Page [1].
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