Assessing Interactions among Education, Social Insurance, and Labor Market Policies in a General Equilibrium Framework : An Application to Morocco

This paper develops a general equilibrium model to analyze the marginal and joint impacts that alternative macroeconomic, education, and social protection policies have on the dynamics of employment and unemployment by skill level. The model intro...

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Bibliographic Details
Main Authors:	Marouani, Mohamed A., Robalino, David A.
Format:	Policy Research Working Paper
Language:	English
Published:	World Bank, Washington, DC 2012
Subjects:	ACCESS TO EDUCATION ACCOUNTING ACCUMULATION MODEL ADJUSTMENT POLICIES AGE CATEGORIES AGGREGATE EMPLOYMENT AGGREGATE PRODUCTIVITY AGGREGATE UNEMPLOYMENT AGGREGATE UNEMPLOYMENT RATE AGRICULTURAL SECTOR AGRICULTURE AVERAGE GROWTH AVERAGE PENSION AVERAGE WAGE AVERAGE WAGES BARGAINING BARGAINING POWER BASKET OF GOODS BENEFIT FORMULAS BONDS CAPITAL ACCUMULATION COMMODITIES COMPETITIVENESS COMPREHENSIVE STRATEGY CONTRIBUTION CONTRIBUTION RATE CONTRIBUTION RATES COST OF LABOR CURRENT ACCOUNT DEMAND FOR CAPITAL DEMOGRAPHIC COMPOSITION DEPRECIATION DEVELOPMENT ECONOMICS DISABILITY DISEQUILIBRIUM DIVERSIFICATION DOWNWARD RIGIDITY OF WAGES EARLY RETIREMENT EARNINGS ECONOMIC ANALYSIS ECONOMIC GROWTH ECONOMIC SECTORS ECONOMIC THEORY ECONOMICS EDUCATED INDIVIDUALS EDUCATION LEVELS EDUCATION SYSTEM ELASTICITY ELASTICITY OF SUBSTITUTION EMPLOYERS EMPLOYMENT EMPLOYMENT DYNAMICS EMPLOYMENT LEVELS EMPLOYMENT POLICIES EMPLOYMENT POLICY EMPLOYMENT PROSPECTS ENROLLMENT EXCHANGE RATE EXCLUSION EXOGENOUS VARIABLES EXPECTED WAGE EXPENDITURE EXPENDITURES EXPORTS FAMILY SUPPORT FINANCES FINANCIAL SECTOR FINANCIAL SUSTAINABILITY FISCAL DEFICIT FISCAL SUSTAINABILITY FIXED RATE FORMAL EDUCATION FUNCTIONAL FORMS GDP GDP PER CAPITA GENDER GENERAL EQUILIBRIUM GENERAL EQUILIBRIUM MODELS GOVERNMENT SUBSIDIES HEALTH INSURANCE HIGH UNEMPLOYMENT HIGH UNEMPLOYMENT RATE HIGH UNEMPLOYMENT RATES HOUSEHOLD SURVEY HOUSEHOLDS HUMAN CAPITAL IN-SERVICE TRAINING INCOME INCOME DISTRIBUTION INCOME TAXES INFLATION INFORMAL SECTOR INITIAL UNEMPLOYMENT INNOVATION INNOVATIONS INTEREST PAYMENTS INTERNATIONAL BANK INTERNATIONAL MARKETS INTERNATIONAL MIGRATION INVESTMENT CLIMATE JOBS LABOR COSTS LABOR DEMAND LABOR FORCE LABOR FORCE GROWTH LABOR FORCE PARTICIPATION LABOR FORCE SURVEY LABOR FORCE SURVEYS LABOR MARKET LABOR MARKET ISSUES LABOR MARKET OUTCOMES LABOR MARKET POLICIES LABOR MARKET POLICY LABOR MARKET SEGMENTATION LABOR MARKETS LABOR MOBILITY LABOR PRODUCTIVITY LABOR SUPPLY LABOUR LACK OF ACCESS MACROECONOMIC EFFECTS MACROECONOMIC POLICIES MACROECONOMIC STABILITY MARGINAL PROPENSITY TO SAVE MARKET SHARE MIDDLE EAST MINIMUM WAGE MINIMUM WAGES MONOPOLY MORTALITY NATIONAL UNEMPLOYMENT NATIONAL UNEMPLOYMENT RATE NEW JOBS NORTH AFRICA OPPORTUNITY COST OPTIMIZATION PENSION PENSION FUNDS PENSION RIGHTS PENSION SYSTEM PENSIONS PENSIONS SYSTEM PERMANENT WORKERS POLITICAL ECONOMY POST SECONDARY EDUCATION PRESENT VALUE PRIMARY EDUCATION PRIVATE INSTITUTIONS PROBABILITY PRODUCTION FUNCTION PRODUCTION FUNCTIONS PRODUCTIVITY GROWTH PRODUCTIVITY GROWTH RATE PRODUCTIVITY INCREASES PUBLIC DEBT RATES OF RETURN REAL GDP REASONABLE ASSUMPTIONS REMITTANCES REPLACEMENT RATES SALARIES SAVINGS SERVANTS SEVERANCE PAY SKILL TYPE SKILLED WORKERS SKILLS DEVELOPMENT SOCIAL INSURANCE SOCIAL PROTECTION SOCIAL SECURITY SOCIAL SECURITY CONTRIBUTIONS STOCKS SUBSTITUTION EFFECT TAX RATES TAXATION TEMPORARY WORKERS TOTAL FACTOR PRODUCTIVITY TOTAL FACTOR PRODUCTIVITY GROWTH TOTAL PRODUCTIVITY GROWTH TOTAL SAVINGS TOTAL UNEMPLOYMENT TOTAL WAGE TRADE POLICY TRAINING POLICIES TRAINING SYSTEM UNEMPLOYED UNEMPLOYMENT UNEMPLOYMENT FIGURES UNEMPLOYMENT INSURANCE UNEMPLOYMENT LEVEL UNEMPLOYMENT PROBLEM UNEMPLOYMENT RATES UNEMPLOYMENT REDUCTION UNION UNSKILLED LABOR UNSKILLED WORKERS URBAN AREAS URBAN EMPLOYMENT URBAN UNEMPLOYMENT VALUE ADDED VOCATIONAL TRAINING WAGE BILL WAGE DIFFERENTIAL WORKER WORKERS
Online Access:	http://documents.worldbank.org/curated/en/2008/07/9700065/assessing-interactions-among-education-social-insurance-labor-market-policies-general-equilibrium-framework-application-morocco http://hdl.handle.net/10986/6821

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Summary:	This paper develops a general equilibrium model to analyze the marginal and joint impacts that alternative macroeconomic, education, and social protection policies have on the dynamics of employment and unemployment by skill level. The model introduces a disaggregated treatment of the labor market that incorporates an informal sub-sector in every sector of the economy. The analysis explicitly models the distribution of skills in the labor force by following over time sex-age cohorts across various levels of the education system and in the labor market. And it integrates a module that projects the revenues and expenditures of the pension system. The model is applied to the case of Morocco. Simulations show that even under positive assumptions regarding economic growth, unemployment rates are likely to remain close to current levels in the next decade. The paper argues that only an integrated package of policies that affect the macro-economy, the investment climate, and the education and social protection systems would allow sustainable creation of enough "good quality" jobs.

Assessing Interactions among Education, Social Insurance, and Labor Market Policies in a General Equilibrium Framework : An Application to Morocco

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