TY  - JOUR
AU  - Heckman, James
AU  - Pages, Carmen
TI  - Law and Employment: Lessons from Latin America and the Caribbean
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 10129
PY  - 2003
Y2  - December 2003
DO  - 10.3386/w10129
UR  - http://www.nber.org/papers/w10129
L1  - http://www.nber.org/papers/w10129.pdf
N1  - Author contact info:
James J. Heckman
Center for the Economics of
Human Development
University of Chicago
1126 East 59th Street
Chicago, IL 60637
Tel: 773/702-0634
Fax: 773/702-8490
E-Mail: jjh@uchicago.edu

Carmen Pagés
E-Mail: carmenpag@iadb.org
M1  - published as Carolyn Evans, James Harrigan. "Tight Clothing. How the MFA Affects Asian Apparel Exports," in Takatoshi Ito and Andrew K. Rose, editors, "International Trade in East Asia" University of Chicago Press (2005)

AB  - 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.
ER  -