Cyclicality of labor wedge and informal sector

被引：3

作者：

Atesagaoglu, Orhan Erem ^{[1
]}

Elgin, Ceyhun ^{[2
]}

机构：

[1] SUNY Stony Brook, Stony Brook, NY USA

[2] Bogazici Univ, TR-80815 Bebek, Turkey

来源：

ECONOMICS LETTERS | 2015年 / 136卷

关键词：

Labor wedge; Marginal rate of substitution; Marginal product of labor; Informal sector;

D O I：

10.1016/j.econlet.2015.09.024

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

Empirical evidence suggests that the labor wedge, defined as the gap between the firm's marginal product of labor and the household's marginal rate of substitution, is quite volatile and countercyclical. This article argues that the presence of an 'informal sector' can provide a key for understanding the observed countercyclical behavior of the labor wedge. (C) 2015 Elsevier B.V. All rights reserved.

引用

页码：141 / 146

页数：6

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