Financial crises and labor market turbulence
成果类型：
Article
署名作者：
Pratap, Sangeeta; Quintin, Erwan
署名单位：
City University of New York (CUNY) System; Hunter College (CUNY); City University of New York (CUNY) System
刊物名称：
JOURNAL OF MONETARY ECONOMICS
ISSN/ISSBN：
0304-3932
DOI：
10.1016/j.jmoneco.2011.10.009
发表日期：
2011
页码：
601-615
关键词：
摘要：
Financial crises in emerging markets trigger a significant reallocation of labor as exchange rate depreciations and interest rate increases cause relative prices to change drastically. Household survey data for Mexico reveal that individuals who switched industry or occupation during the 1994-1995 crisis lost about 10% of their hourly earnings on average compared to similar workers who did not move. This suggests that many workers became less productive in the process of migrating to different economic activities. These productivity losses, in turn, can explain about 40% of the observed fall in TFP in Mexico in 1995. (C) 2011 Elsevier B.V. All rights reserved.
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