Informal Labour and Credit Markets: A Survey

Levine, Paul; Lotti, Emanuela; Batini, Nicoletta; Kim, Young‐Bae

doi:10.5089/9781451962963.001

Cited by 8 publications

(2 citation statements)

References 75 publications

(101 reference statements)

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“…The formal and informal sectors di↵er not only on their productivity or in the ability to adjust employment in the short run, but also crucially in their access to the financial system. As shown in Levine et al (2010), most informal firms are excluded from the financial system and have to rely on alternative and more expensive sources of funds.…”

Section: Introductionmentioning

confidence: 99%

Does informality facilitate inflation stability?

Alberola

Urrutia

2020

Journal of Development Economics

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BIS Working Papers are written by members of the Monetary and Economic Department of the Bank for International Settlements, and from time to time by other economists, and are published by the Bank. The papers are on subjects of topical interest and are technical in character. The views expressed in them are those of their authors and not necessarily the views of the BIS.This publication is available on the BIS website (www.bis.org).

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Section: Introductionmentioning

confidence: 99%

Does informality facilitate inflation stability?

Alberola

Urrutia

2020

Journal of Development Economics

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“…In spite of various measures taken in recent times to regulate the sector, the unorganized nature of the real estate sector comes to the fore time and again because of slack enforcement of regulations, bureaucratic costs of formal operations, and social norms that encourage non-adherence to laws as a tool used by small enterprises to compete with large modern players (Farrell, 2004). Adverse selection, moral hazard and weak contract enforcement exacerbate the informality of the unorganised sector (Batini et al ., 2010).…”

Section: Literature Reviewmentioning

confidence: 99%

Stimulation of construction industry output through enhanced efficiency of Indian residential real estate sector

Krishnamurthy,

Mahesh

2024

BEPAM

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PurposeIn the context of an absence of studies examining the interrelationship between Indian construction industry and residential real estate sector, the study aims to develop and test a conceptual framework to stimulate construction industry through optimisation of housing market in India. The developed conceptual framework lays down a blueprint to assess the interaction between construction industry and housing market in other countries.Design/methodology/approachMeans of stimulation of construction industry by residential real estate sector were identified. Housing market was examined to identify factors constituting consumer-centric delivery and consumer-empowered demand. Supply side of housing market was probed to identify underlying factors stifling housing delivery. The identified factors were put together to form the conceptual framework. A questionnaire was developed and administered to the delivery-side stakeholders of housing market.FindingsThe study demonstrates significant correlations between real estate investment-led construction industry output stimulation and consumer-centric residential real estate delivery. The deterrents to consumer-centric housing delivery have been ascertained to be having an impact on time, cost and scope of housing projects. Significant correlations have been ascertained between the deterrents. On the demand-side, skills, awareness and engagement of consumers are strongly correlated with each other. Affordability of housing is rightfully correlated with all the three means of stimulation of construction industry output.Originality/valueSpecific to the Indian context, the study presents and validates a novel conceptual framework aimed at stimulation of construction industry output through interventions in housing market.

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Search frictions and labor market dynamics in a real business cycle model with undeclared work

2015

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We study the effects of undeclared work (UDW) on labor market dynamics in a real business cycle (RBC) model with search and matching frictions in the labor market. Distinction is made between the wages paid and the hours worked in regular and in undeclared types of activity.Calibrating the model on the US economy, we show that a greater size of UDW implies lower average employment, higher volatility of employment and lower volatility of regularwages. These volatilities are affected by the steady-state ratio between the minimum value of the regular wage that can be accepted by a worker and the maximum value that can be paid by a firm in the Nash bargaining process, which occurs when a labor match is realized. The greater the ratio, the higher the volatility of employment and the lower the volatility of wages. We demonstrate that, due to a social stigma attached to UDW, an increase in undeclared hours raises this ratio by reducing the numerator less than the denominator. This suggests that the introduction of UDWmay improve the ability of RBC models to match the empirical volatilities of labor market variables

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Informal Labour and Credit Markets: A Survey

Cited by 8 publications

References 75 publications

Does informality facilitate inflation stability?

Does informality facilitate inflation stability?

Stimulation of construction industry output through enhanced efficiency of Indian residential real estate sector

Search frictions and labor market dynamics in a real business cycle model with undeclared work

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