The Effects of Labour Market Reforms upon Unemployment and Income Inequalities: an Agent Based Model
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1 juillet 2016
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Mots-clés
Labor market structural reforms Income distribution Inequality Unemployment Long run growth C - Mathematical and Quantitative Methods/C.C6 - Mathematical Methods • Programming Models • Mathematical and Simulation Modeling/C.C6.C63 - Computational Techniques • Simulation Modeling E - Macroeconomics and Monetary Economics/E.E2 - Consumption, Saving, Production, Investment, Labor Markets, and Informal Economy E - Macroeconomics and Monetary Economics/E.E1 - General Aggregative Models/E.E1.E12 - Keynes • Keynesian • Post-Keynesian E - Macroeconomics and Monetary Economics/E.E2 - Consumption, Saving, Production, Investment, Labor Markets, and Informal Economy/E.E2.E24 - Employment • Unemployment • Wages • Intergenerational Income Distribution • Aggregate Human Capital • Aggregate Labor Productivity O - Economic Development, Innovation, Technological Change, and Growth/O.O1 - Economic Development/O.O1.O11 - Macroeconomic Analyses of Economic DevelopmentSujets proches
Joblessness Public markets Fortunes Household income Personal income Family income Pattern Model Social inequality Social equality Inequality EgalitarianismCiter ce document
Giovanni Dosi et al., « The Effects of Labour Market Reforms upon Unemployment and Income Inequalities: an Agent Based Model », Archive ouverte de Sciences Po (SPIRE), ID : 10670/1.vubqco
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Résumé
This paper is meant to analyse the e ects of labour market structural reforms by meansof an agent-based model. Building on Dosi et al. (2016b) we introduce a policy regimechange characterized by a set of structural reforms on the labour market, keeping constantthe structure of the capital- and consumption-good markets. Con rming a recent IMF report(Jaumotte and Buitron, 2015), the model shows how labour market structural reforms re-ducing workers' bargaining power and compressing wages tend to increase (i) unemployment,(ii) functional income inequality, and (iii) personal income inequality. We further undertakea global sensitivity analysis on key variables and parameters which con rms the robustnessof our findings.