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Informal Labour and Credit Markets : A Survey / Paul Levine, Emanuela Lotti, Nicoletta Batini, Young-Bae Kim.
- Format:
- Book
- Government document
- Author/Creator:
- Levine, Paul.
- Series:
- IMF Working Papers; Working Paper ; No. 2010/042
- IMF Working Papers
- Language:
- English
- Subjects (All):
- Labor supply--Statistics.
- Labor supply.
- Informal sector (Economics).
- Credit--Mathematical models.
- Credit.
- Physical Description:
- 1 online resource (43 p.)
- Other Title:
- Informal labor and credit markets : a survey
- Place of Publication:
- Washington, D.C. : International Monetary Fund, 2010.
- Language Note:
- English
- Summary:
- This paper reviews the literature on the informal economy, focusing first on empirical findings and then on existing approaches to modeling informality within both partial and general equilibrium environments. We concentrate on labour and credit markets, since these tend to be most affected by informality. The phenomenon is particularly important in emerging and other developing economies, given their high degrees of informal labour and financial services and the implications these have for the effectiveness of macroeconomic policy. We emphasize the need for dynamic general equilibrium (DGE) and ultimately dynamic stochastic general equilibrium (DSGE) models for a full understanding of the costs, benefits and policy implications of informality. The survey shows that the literature on informality is quite patchy, and that there are several unexplored areas left for research.
- Contents:
- Contents; I. Introduction; II. Literature on Empirical Evidence; A. How do we Measure the Informal Economy?; B. The Size of the Informal Economy; Figures; 1. The Size of the Informal Economy around the World Schneider (2005); C. Causes and Impact of Informality; D. Main stylized facts; Informal employment; Informal credit markets; III. Informality in the Labour Market: Early Contributions; IV. Informality and Labour Market Frictions; A. The Intersectoral Margin for Workers and Firms; B. The Intersectoral Margin for Workers; C. The Intrafirm Margin and the Occupational Choice
- V. Informal Credit MarketsA. Informal Credit Market, Asymmetric Information and Formal-Informal Linkages; Horizontal linkages; Vertical linkages; B. Informal Credit Markets and Trading Frictions; C. Credit-Constrained Entrepreneurs, Informal Credit and Labour Markets Linkages; D. Informal Credit Markets and Monetary Policy; VI. General Equilibrium Models of Informality; A. Informality in Computable General Equilibrium Models; B. Informality and Dynamic General Equilibrium Models with Wage Flexibility; C. Endogenous Growth and Informality; D. New Keynesian Models with Informal Labour Markets
- VII. ConclusionsReferences; Tables; 1. Informality; 2. Views for the Informal Economy from Table 1 in Chen (2007); 3. Informal Economy as a Percentage of GDP; 4. Search Matching Models: Classification; 5. Towards a General Equilibrium Approach to Informality
- Notes:
- "February 2010."
- Includes bibliographical references.
- Description based on print version record.
- ISBN:
- 9786613868619
- 9781462391066
- 1462391060
- 9781452725833
- 1452725837
- 9781283556163
- 1283556162
- 9781451918878
- 1451918879
- OCLC:
- 870244818
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