This paper develops and tests a mechanism by which job security affects the age-composition of employment. This mechanism is based on the relative costs of dismissing young versus older workers resulting from job security provisions that are related to tenure. Using 39 consecutive annual...

This paper develops a simple model to analyze the impact of tenure-based severance payments on firms` hiring and firing decisions. The findings are that under certain conditions, this feature leads to a Last-in First-out firing policy. Also, reforms that increase the slope of the...

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...

This paper documents the high level of job security protection in Latin American labor markets and analyzes its impact on employment. We show that job security policies have substantial impact on the level and the distribution of employment in Latin America. They reduce employment and promote...

This paper shows that the factors affecting labor supply have been key determinants of the changes in employment, unemployment, and income differentials in Latin America in the 1990s. The two main forces driving labor supply in the region have been demographics and education.

One of the main concerns of Latin Americans today is the lack of adequate employment opportunities. This concern is based on the widespread perception that not enough employment is being generated, and that few individuals have access to well- remunerated jobs. This work asks whether there is a...

This paper shows that the factors affecting labor supply have been key determinants of the changes in employment, unemployment, and income differentials in Latin America in the 1990s. The two main forces driving labor supply in the region have been demographics and education

One of the main concerns of Latin Americans today is the lack of adequate employment opportunities. This concern is based on the widespread perception that not enough employment is being generated, and that few individuals have access to well-remunerated jobs. This work asks whether there is a...