| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | The World Bank Economic Review |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 67-88 |
| Abstraksi Narasi | : | This article analyzes the efficient mechanism for downsizing the public sector, focusing on adverse selection in productive efficiency. Each worker is assumed to have two type-dependent reservation utilities: the status quo utility in the public sector before downsizing and the utility that the worker expects to obtain by entering the private sector. The efficient mechanism consists of a menu of probability (of remainingin the public sector) and transfer pairs that induces self-selection. A worker`s full cost is defined by the sum of production cost in the public sector and reservation utility in the private sector. It is optimal to start by laying off the agents with higher full cost. When the public sector before downsizing is discriminating as the differential of private information about productive efficiency suggests, there are countervailing incentives. This makes the size of downsizing smaller under asymmetric information than under complete information. |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | The World Bank Economic Review |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 155-184 |
| Abstraksi Narasi | : | The government of Algeria has adopted a new retrenchment system to facilitate labor shedding in a public sector characterized by redundant workers and in an environment of already high unemployment. This article assesses the financial viability of the retrenchment system and the inherent welfare costs and benefits associated with layoffs. A financial flows model tracks the Unemployment Insurance Fund`s revenue and expenditure flows during the projected five-year adjustment period. It finds that even in the presence of massive retrenchment (21 percent of formal sector employment), the fund accumulates reserves equivalent to nearly 2 percent of gross domestic product. Because many displaced workers will end up in the informal sector, the resulting productivity gains or losses depend crucially on the initial level of productivity in the public sector. At the same time, retrenchment entails unambiguous benefits by reducing subsidies to state-owned enterprises, thereby generating efficiency gains. Considering these two effects together, the welfare model estimates that retrenching 13 percent of the formal sector will generate annual net welfare gains ranging from costs of $358 million to gains of $774 million. |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | The World Bank Economic Review |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 1-22 |
| Abstraksi Narasi | : | Authorities throughout the developing world are turning to downsizing in an effort to reduce budget deficits and address the inefficiencies engendered by state-led development strategies. Because large-scale involuntary dismissals are often politically difficult, a voluntary approach to reductions in public sector employment is increasingly popular among developing-country governments, multilateral organizations, and donor countries. This article (and, more generally, the research project on Public Sector Retrenchment) attempts to sketch a protocol for public sector downsizing that takes into account the costs and benefits for the workers and the economy. After reviewing the international experience with downsizing, the article addresses five questions: how to identify the redundant workers, how to predict their losses from separation, how to design compensation and assistance packages, how to assess the financial and economic returns to downsizing in one-company towns. Based on the answers to these questions, a decision tree is proposed |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | The World Bank Economic Review |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 117-154 |
| Abstraksi Narasi | : | Severance pay programs can reduce political opposition and minimize the social costs of labor redundancies. In Egypt, only voluntary programs are feasible because legal limitations preclude layoffs and strong organized labor groups oppose any weakening of job security protections. A common problem with voluntary severance programs, however, is that they tend to overpay workers relative to the welfare losses they experience from displacement. This article estimate the losses that publicb sector workers would incur if they were displaced from their jobs and simulates several voluntary severance schemes to determine how well the schemes match compensation payments to these estimated losses. It provides a fairly strong argument for looking at the structure of opportunity costs and wage profiles when designing severance programs. It shows that significant overpayment can be avoided by matching compensation payments to the expected losses of workers. It also provides a method for estimating these losses from standard labor force surveys that are available in most countries |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | The World Bank Economic Review |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 185-209 |
| Abstraksi Narasi | : | One-company towns, characterized by the presence of a large employer in a local labor market, are a frequent legacy of state-led development strategies. How will downsizing or closing unprofitable state-owned enterprises affect these towns? This article develops a simple model combining monopsony power in the labor market with a Keynesian closure of the product market and uses it to interpret the findings of previous studies. The article evaluates the impact of the company`s employment level on the town`s labor earnings in Kazakhstan, where one-company towns are still prevalent. The evaluation is based on data from the 1996 Living Standards Measurement Survey. The results show that labor earnings in the town decrease roughly 1.5 percent when the share of its population working for the company decreases 1 percent. The results are robust to changes in definition of labor earnings and to the inclusion of a variety of other community characteristics in the analysis. These results and the theoretical model are combined to evaluate the welfare impact of company downsizing and, consequently, to drive the optimal extent of labor retrenchment. |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | The World Bank Economic Review |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 89-116 |
| Abstraksi Narasi | : | This article measure the earnings and welfare losses experienced by displaced employees of the Central Bank of Ecuador. It links these lossesto individual characteristics such as gender, education, seniority, and salary in the public sector. Data are from a survey of displaced employees that included subjective evaluations of well-being in addition to information on activity and earnings. The welfare losses of separated employess are not highly correlated with their earnings losses, partly because some of them (especially women) withdrew from the labor force after separation. Earnings and welfare losses also vary depending on the nature of displacement, which was voluntary for roughly half the employees and involuntary for the rest. Overall, the losses were larger for employees with less education and more seniority, but not necessarily larger for employees with higher salaries. However, compensation for displacement was based on a rule of thumb that involved only salary and seniority and was applied across-the board. For those employees who left voluntarily, the resulting compensation package was, on average, about 20 percent higher than the welfare loss. The article derives the implications of these findings for the design of assistance programs for displaced workers and, more specifically, for the tailoring of compensation packages to their individual characteristics. |
| Nama Pengarang | : | John Haltiwanger, Manisha Singh, Doh-Shin Jeon, Jean-Jaques Laffont, Martin Rama, Kinnon Scoot, Ragui Assaad, Martin Rama, Elizabeth Ruppert, Doh-Shin Jeon, Jean-Jaques Laffont |
| Nama Majalah/Jurnal | : | The World Bank Economic Review |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 23-88 |
| Abstraksi Narasi | : | This article reports the results from a survey of public sector employment retrencment episodes across a wide variety of developing and transition economies. The information collected and analyzed is primarily from internal World Bank documents and in-depth interviews with World Bank staff having operational information about experiences in specific countries. Using the information collected on 41 retrenchement programs across 37 countries, the article analyzes the relationships between the factors leading to retrenchment, the scope and nature of retrenchment, and the methods used to accomplish the retrenchment. The discusion of methods includes an analysis of the mix of involuntary and voluntary employment reduction programs, the compensation schemes offered, and the extent of targeting of specific types of workers. Although relevant quantitative information is limited, the article also attempts to evaluate the outcome of the programs on several dimensions. The most striking findings relate to analysis of the factors leading a significant fraction of programs to rehire workers separated from the public sector (thereby defeating the programs` objective). In addition, the article relates program characteristics to calculated summary financial payback indicators and to the labor market adjustment. |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | The World Bank Economic Review |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 503-526 |
| Abstraksi Narasi | : | The early literature on international trade has debated extensively trade has debated extensively the constraints facing exporting countries in the major commodity markets. This article goes one step futher by suggesting that the final demand for these products could not have increased because the declines in world commodity prices were not transmitted or were transmitted imperfectly to domestic consumer prices. In contrast, upward movements in world prices were clearly passed on to domestic prices. As a result, the spread between world and domestic prices almost doubled in all major commodity markets during 1975-94. This asymetry, seldom dicussed in the literature, does not seem to be caused, at least systematically, by changes in trade and tax policies or factor such as transport, processing, and marketing costs. This article argues, therefore, that a special effort should be made to better understand the transmission from world to domestic prices, especially the role of large international trading companies that may have the capability to influence such spreads through one or several stages of processing in most major commodity markets. |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | The World Bank Economic Review |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 457-482 |
| Abstraksi Narasi | : | The Bolivian Social Investment Fund (SIF) is a financial institution that promotes sustainable investments in the social sectors, principally in the areas of health, education, and sanitation. This article shows how to use preintervention data collected for evaluating the SIF to improve the targeting of a program, to test the quality of the evaluation design, and to define corrective measures if necessary. It finds that among SIF interventions the benefits in education are distributed relatively equally over the population, while the investments in health and sanitation favor better-off communities. The article contributes to the methods used to evaluate social investment funds and similar programs. It compares two types of evaluation designs to assess social investment fund interventions in the education sector. The authors demonstrate that a simple matched-comparison design introduces a bias in the estimate of the program effect, whereas an experimental design based on random assignment does not. With preintervention data, the analyst can select a quasi or indirect experiment, where the choice of the indirect experiment coincides with the selection of valid instrumental variables. The availability of preintervention data makes it possible to compare the two types of evaluation designs as well as to test the validity of the instruments and to determine the loss of efficiency due to the use of quasi-experimental techiques instead of random treatment assignment. |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | The World Bank Economic Review |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 483-501 |
| Abstraksi Narasi | : | A broad set of possible determinants of private saving behavior is examined using data for a large sample of industrial and developing countries. Both time-series and cross-sectional estimates are obtained. Results suggest that there is a partial offset on private saving of changes in public saving and (for developing countries) in foreign saving, that demographics and growth are important determinants of private saving rates, and that interest rates and terms of trade have positive, but less robust, effects. Increases in per capita gross domestic product seem to increase saving at low income levels (relative to the United States) but decrease it at higher ones. |
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