Theoretical Foundations: A General Equilibrium Approach

Chaudhuri, Sarbajit; Mukhopadhyay, Ujjaini

doi:10.1007/978-1-4419-1194-0_2

Cited by 21 publications

(35 citation statements)

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“…Despite the importance of the informal sector, however, there has not been much research on the labor market conditions, production organization, and domestic policies (labor market) and international policies (trade) that affect workers in the informal sector. Only a handful of studies have examined the welfare implications of trade and labor reforms on the informal sector, including [2], [3], [4], [5], [6], [7], [8]. These interactions should be of considerable interest to policymakers, regulators, labor unions, formal sector firms, and consumers.…”

Section: Motivationmentioning

confidence: 99%

Do economic reforms hurt or help the informal labor market?

Kar¹

2016

izawol

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Section: Motivationmentioning

confidence: 99%

Do economic reforms hurt or help the informal labor market?

Kar¹

2016

izawol

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“…Thus there remains a fixed proportion between the use of the intermediate good and the quantity of the final commodity produced and marketed by the formal sector. See Chaudhuri and Mukhopadhyay (2009) in this context.…”

Section: Introductionmentioning

confidence: 99%

“…the informal sector wage. See Bhalotra (2002) and Chaudhuri and Mukhopadhyay (2009) in this context.…”

Section: Introductionmentioning

confidence: 99%

International factor mobility, informal interest rate and capital market imperfection: A general equilibrium analysis

Chaudhuri

Gupta

2014

Economic Modelling

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This paper makes a pioneering attempt to provide a theory of determination of interest rate in the informal credit market in a small open economy in terms of a threesector general equilibrium model. There are two informal sectors which obtain production loans from a monopolistic moneylender and employ labour from the informal labour market. On the other hand, the formal sector employs labour at an institutionally fixed wage rate and takes loans from the competitive formal credit market. We show that an inflow of foreign capital and/or an emigration of labour raises (lowers) the informal (formal) interest rate while lowers the competitive wage rate in the informal labour market when the informal manufacturing sector is more capital-intensive vis-à-vis the agricultural informal sector. International factor mobility, therefore, increases the degrees of distortions in both the factor markets in this case.

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“…This raises the cost of financing of the unorganized sector. These characteristics of the informal credit market have been adequately described and analyzed in Bhaduri (1977), Rudra (1982), Basu (1984Basu ( , 1997, Basu and Bell (1991), Mishra (1994), Chaudhuri (2003) and Chaudhuri and Mukhopadhyay (2009). For a theory of determination of the informal interest rate in a general equilibrium structure, beginning from the microeconomic behaviour of the informal sector lender in an imperfectly competitive credit market, one may go through Chaudhuri and Gupta (2014).…”

Section: Among Othersmentioning

confidence: 99%

“…For a theory of determination of the unionized wage in the formal sector one may go through Chaudhuri (2003) and Chaudhuri and Mukhopadhyay (2009) …”

mentioning

confidence: 99%

Economic Reforms and Gender-Based Wage Inequality in the Presence of Factor Market Distortions

Poddar¹,

Chaudhuri

2016

J. Quant. Econ.

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A simple three-sector general equilibrium model has been developed with both male and female labour and factor market distortions. The effects of different liberalized economic policies have been examined on the gender-based wage inequality. The analysis finds that credit market reform and tariff reform produce favourable effects on the wage inequality while the liberalized investment policy becomes counterproductive. These results have important policy implications for a small open developing economy.

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Theoretical Foundations: A General Equilibrium Approach

Cited by 21 publications

References 0 publications

Do economic reforms hurt or help the informal labor market?

Do economic reforms hurt or help the informal labor market?

International factor mobility, informal interest rate and capital market imperfection: A general equilibrium analysis

Economic Reforms and Gender-Based Wage Inequality in the Presence of Factor Market Distortions

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