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Informal Labour and Credit Markets: A Survey.

Batini, N, Kim, Y-B, Levine, P and Lotti, E Informal Labour and Credit Markets: A Survey. .

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Abstract

This paper reviews the literature on the informal economy, focusing first on empirical findings and then on existing approaches to modelling informality within both partial and general equilibrium environments. We concentrate on labour and credit markets, since these tend to be most affected by informality. The phenomenon is particularly important in emerging and other developing economies, given their high degrees of informal labour and financial services and the implications these have for the effectiveness of macroeconomic policy. We emphasize the need for dynamic general equilibrium (DGE) and ultimately dynamic stochastic general equilibrium (DSGE) models for a full understanding of the costs, benefits and policy implications of informality. The survey shows that the literature on informality is quite patchy, and that there are several unexplored areas left for research.

Item Type: Other
Authors :
NameEmailORCID
Batini, NUNSPECIFIEDUNSPECIFIED
Kim, Y-BUNSPECIFIEDUNSPECIFIED
Levine, Pp.levine@surrey.ac.ukUNSPECIFIED
Lotti, EUNSPECIFIEDUNSPECIFIED
Uncontrolled Keywords : J65, E24, E26, E32, Informal economy, Labour market, Search-matching models
Depositing User : Symplectic Elements
Date Deposited : 16 May 2017 15:14
Last Modified : 17 May 2017 14:33
URI: http://epubs.surrey.ac.uk/id/eprint/818169

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