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Labor Market Representation in Quantitative Macroeconomic Models for Developing Countries: An Application to Côte d'Ivoire

Author

Listed:
  • Vincent Bodart

    (International Monetary Fund)

  • Jean Le Dem

    (International Monetary Fund)

Abstract

This paper presents a quantitative macroeconomic model that accounts for key features of the labor market in developing countries. Primarily inspired by Côte d'Ivoire, the model contrasts a formal urban sector, where wages are rigidly fixed and employment is subject to firms' profit-seeking behavior, with urban and rural informal sectors, where wages are flexible and employment is affected by fluctuations in formal sector employment. Dynamic simulations assess the impact on key macroeconomic variables of exogenous and policy-induced shocks, highlighting the roles of rural-urban migrations and capital accumulation in the informal urban sector.

Suggested Citation

  • Vincent Bodart & Jean Le Dem, 1996. "Labor Market Representation in Quantitative Macroeconomic Models for Developing Countries: An Application to Côte d'Ivoire," IMF Staff Papers, Palgrave Macmillan, vol. 43(2), pages 419-451, June.
    • Handle: RePEc:pal:imfstp:v:43:y:1996:i:2:p:419-451
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    Citations

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    Cited by:

    1. AGENOR Pierre-Richard & IZQUIERDO Alejandro & FOFACK Hippolyte, 2010. "IMMPA: A Quantitative Macroeconomic Framework for the Analysis of Poverty Reduction Strategies," EcoMod2003 330700003, EcoMod.
    2. Takao FUKUCHI, 1998. "A Simulation Analysis Of The Urban Informal Sector," The Developing Economies, Institute of Developing Economies, vol. 36(3), pages 225-256, September.
    3. Agenor, Pierre-Richard & Izquierdo, Alejandro & Fofack, Hippolyte, 2003. "The integrated macroeconomic model for poverty analysis : a quantitative macroeconomic framework for the analysis of poverty reduction strategies," Policy Research Working Paper Series 3092, The World Bank.

    More about this item

    JEL classification:

    • O17 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Formal and Informal Sectors; Shadow Economy; Institutional Arrangements
    • O18 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Urban, Rural, Regional, and Transportation Analysis; Housing; Infrastructure
    • J21 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Force and Employment, Size, and Structure
    • J4 - Labor and Demographic Economics - - Particular Labor Markets

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