全球智库信息集成服务系统(G2TT): DP11403 How do regulated and unregulated labor markets respond to shocks? Evidence from immigrants during the Great Recession

G2TT

来源类型	Discussion paper
规范类型	论文
来源ID	DP11403
	DP11403 How do regulated and unregulated labor markets respond to shocks? Evidence from immigrants during the Great Recession
	Sergei Guriev; Biagio Speciale; Michele Tuccio
发表日期	2016-07-21
出版年	2016
语种	英语
摘要	We study wage adjustment during the recent crisis in regulated and unregulated labor markets in Italy. Using a unique dataset on immigrant workers, we show that before the crisis wages in the formal and informal sectors moved in parallel (with a 15 percent premium in the formal labor market). During the crisis, however, formal wages did not adjust down while wages in the unregulated informal labor market fell so that by 2013 the gap had grown to 32 percent. The difference was particularly salient for workers in "simple" occupations where there is high substitutability between immigrant and native workers. Calibrating a simple model of spillovers between formal and informal markets, we find that less than 10 percent of workers who lost a formal job during the crisis move to the informal sector. We also find that if the formal sector wages were fully flexible, the decline in formal employment would be in the range of 1.5-4.5 percent - much lower than 16 percent decline that we observe in the data.
主题	Development Economics ; Labour Economics
关键词	Immigration Labor market regulation Wage rigidity Great recession
URL	https://cepr.org/publications/dp11403
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/540217
推荐引用方式 GB/T 7714	Sergei Guriev,Biagio Speciale,Michele Tuccio. DP11403 How do regulated and unregulated labor markets respond to shocks? Evidence from immigrants during the Great Recession. 2016.