| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP8485 |
| DP8485 Contractual Dualism, Market Power and Informality | |
| Ravi Kanbur; Nancy H Chau; Arnab K Basu | |
| 发表日期 | 2011-07-01 |
| 出版年 | 2011 |
| 语种 | 英语 |
| 摘要 | Two stylized representations are often found in the academic and policy literature on informality and formality in developing countries. The first is that the informal (or unregulated) sector is more competitive than the formal (or regulated) sector. The second is that contract enforcement is easier in the formal sector than in the informal sector, precisely because the formal sector comes under the purview of state regulation. The basic contention of this paper is that these two representations are not compatible with each other. We develop a search-theoretic model of contractual dualism in the labor market where the inability to commit to contracts in the informal sector leads to employer market power in equilibrium, while an enforced minimum wage in the formal sector provides employers with a commitment technology but which reduces their market power in equilibrium. The contributions of this paper are three-fold. It (i) provides the micro-underpinnings for endogenous determination of employer market power in the formal and informal sectors due to contractual dualism in the two sectors, (ii) offers a unified and coherent setup whereby a host of salient features of developing country labor markets can be explained together, and (iii) places the original Stiglerian prescription of the optimal (unemployment minimizing) minimum wage in the broader context of labor markets where formal job creation is costly, and where formal employment, informal employment, and unemployment co-exist. |
| 主题 | Development Economics ; Labour Economics |
| 关键词 | Contractual dualism Employer market power Informality Wage dualism |
| URL | https://cepr.org/publications/dp8485 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/537322 |
| 推荐引用方式 GB/T 7714 | Ravi Kanbur,Nancy H Chau,Arnab K Basu. DP8485 Contractual Dualism, Market Power and Informality. 2011. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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