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Labor market flexibility in thirteen Latin American countries and the United States : revisiting and expanding Okun coefficients (Английский)

This paper studies labor market flexibility in 13 Latin American countries--Argentina, Bolivia, Brazil, Chile, Colombia, Costa Rica, Guatemala, Mexico, Panama, Paraguay, Peru, Uruguay, and Venezuela--since the 1960s and 1970s by looking at the sensitivity of employment and unemployment, and real wages with respect to output. It finds that price stabilization has brought real-wage stability, but that it has tended to increase uncertainty of...
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