The effects of labour market reforms upon unemployment and income inequalities: an agent-based model

Maria Enrica Virgillito, Giovanni Dosi, Marcelo C. Pereira, Andrea Roventini

Risultato della ricerca: Contributo in rivistaArticolo in rivistapeer review

21 Citazioni (Scopus)

Abstract

This work analyses the effects of labour market structural reforms by means of the labour-augmented ‘Schumpeter meeting Keynes’ (K+S) Agent-Based model. We introduce a policy regime change characterized by a set of structural reforms on the labour market. Confirming a recent IMF report, the model shows how structural reforms reducing workers’ bargaining power and compressing wages tend to increase (a) unemployment, (b) functional income inequality and (c) personal income inequality. We further undertake a global sensitivity analysis on key variables and parameters which corroborates the robustness of our findings.
Lingua originaleEnglish
pagine (da-a)687-720
Numero di pagine34
RivistaSocio-Economic Review
Volume16
DOI
Stato di pubblicazionePubblicato - 2018

Keywords

  • Labour Market Structural Reforms, Income Distribution, Inequality, Unemployment, Long Run Growth.

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