Unemployment in Latin America and the Caribbean

Unemployment in Latin America and the Caribbean
Author :
Publisher : International Monetary Fund
Total Pages : 39
Release :
ISBN-10 : 9781463923341
ISBN-13 : 1463923341
Rating : 4/5 (41 Downloads)

Book Synopsis Unemployment in Latin America and the Caribbean by : Laurence M. Ball

Download or read book Unemployment in Latin America and the Caribbean written by Laurence M. Ball and published by International Monetary Fund. This book was released on 2011-11-01 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: JEL Cl This study constructs a new data set on unemployment rates in Latin America and the Caribbean and then explores the determinants of unemployment. We compare different countries, finding that unemployment is influenced by the size of the rural population and that the effects of government regulations are generally weak. We also examine large, persistent increases in unemployment over time, finding that they are caused by contractions in aggregate demand. These demand contractions result from either disinflationary monetary policy or the defense of an exchange - rate peg in the face of capital flight. Our evidence supports hysteresis theories in which short - run changes in unemployment influence the natural rate.


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