This volume argues that while labour market reforms may be necessary in some specific cases, by no means are labour market policies the main explanation for the widespread increase in unemployment and underemployment across Asia and country specific studies undermine the case for...

This paper shows that the endogeneity bias that allegedly appears when estimating production functions using value data, and which the literature has tried to deal with since the 1940s, is simply the result of omitted-variable bias due to a poor approximation to an accounting identity. This...