Implicit in standard macroeconomics of adjustment is the assumption of well-integrated labor markets that are responsive to relative prices. But segmentation of the labor market is usually said to be an important source of labor market rigidities. In particular, if segmentation involves different degrees of real wage rigidity among different groups in the labor force, nominal devaluation may be ineffective and inequitable in its impact. This paper...
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详细
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1989/12/31
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政策研究报告
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WPS335
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1
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1
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2010/07/01
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Macroeconomic adjustment and the labor market in four Latin American countries
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formal sector