IMF paper explores unemployment drivers in Latin America
Large increases in unemployment are often caused by disinflationary monetary policy, along with a combination of capital flight and a rigid exchange rate, according to an International Monetary Fund paper published on Tuesday.
Laurence Ball, Nicolás De Roux and Marc Hofstetter, the paper's authors, construct a new data set on unemployment rates to explore the determinants of unemployment in Latin America.
The authors find that within a country, persistent increases in unemployment over time are
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