Sectoral Employment and Labor Costs: Elasticity Evidence on Turkey

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Ege Stratejik Araştırmalar Dergisi
Volume:2 Issue:2
Sectoral Employment and Labor Costs: Elasticity Evidence on Turkey

Sectoral Employment and Labor Costs: Elasticity Evidence on Turkey

Pages : 15-26

View : 18 | Download : 13

Publication Date : 2011-07-01

Article Type : Other Papers

Abstract :A recurrent theme in employment policies is that reduction of labor costs would increase employment. This study aims to obtain a value for the employment elasticity of labor cost in Turkey through estimation of a sectoral employment equation. Using 3-digit ISIC Rev 3 industry data obtained from TURKSTAT, the present study performs a panel analysis. The calculated elasticities are positive, contradicting theoretical expectation., and pointing that cost reduction may not be a valid tool for employment expansion. It is also argued that the problem with the sign may be due to the data used and may actually be supportive of a wage curve.
Keywords : Labor cost, employment, panel analysis

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