Law and Employment: Lessons from Latin America and the Caribbean

138 Pages Posted: 5 Dec 2003 Last revised: 6 Sep 2010

See all articles by James J. Heckman

James J. Heckman

University of Chicago - Department of Economics; National Bureau of Economic Research (NBER); American Bar Foundation; Institute for the Study of Labor (IZA); CESifo (Center for Economic Studies and Ifo Institute)

Carmen Pages

Inter-American Development Bank (IADB); IZA Institute of Labor Economics

Date Written: December 2003

Abstract

This paper summarizes the main lessons learned from Law and Employment: Lessons from Latin America and the Caribbean, a forthcoming NBER book. It places Latin American economies and economic policies in a world context. The paper quantifies the cost of regulation in Latin America and OECD Europe and discusses the origin of regulation. It shows the fragility of time series data analyses of the sort widely used to analyze the impact of regulation in OECD Europe and the benefits of using microdata data. The evidence shows that regulation reduces labor market flexibility, reduces the employment of marginal workers and generates inequality in the larger society.

Suggested Citation

Heckman, James J. and Pages-Serra, Carmen, Law and Employment: Lessons from Latin America and the Caribbean (December 2003). NBER Working Paper No. w10129. Available at SSRN: https://ssrn.com/abstract=476086

James J. Heckman (Contact Author)

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Carmen Pages-Serra

Inter-American Development Bank (IADB) ( email )

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