Informal labour and credit markets: a survey


Batini, Nicoletta, Kim, Young-Bae, Levine, Paul and Lotti, Emanuela (2010) Informal labour and credit markets: a survey. New York, US, International Monetary Fund, 42pp. (IMF Working Papers, 10/42).

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Description/Abstract

This paper reviews the literature on the informal economy, focusing first on empirical findings and then on existing approaches to modeling 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: Monograph (Working Paper)
Related URLs:
Keywords: informal economy, labour market, search-matching models
Subjects: H Social Sciences > HB Economic Theory
P Language and Literature > PN Literature (General)
Divisions: University Structure - Pre August 2011 > School of Social Sciences > Economics
ePrint ID: 174527
Date Deposited: 14 Feb 2011 13:51
Last Modified: 27 Mar 2014 19:21
URI: http://eprints.soton.ac.uk/id/eprint/174527

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