The Impact of Financial Crises on Labor Markets, Household Incomes, and Poverty : A Review of Evidence

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dc.creatorFallon, Peter R.
dc.creatorLucas, Robert E. B.
dc.date2014-01-02T20:32:37Z
dc.date2014-01-02T20:32:37Z
dc.date2002-01
dc.date.accessioned2026-07-01T01:17:21Z
dc.descriptionThe 1990s have witnessed several financial crises, of which the East Asia and Mexico tequila crises are perhaps the most well-known. What impact have these crises had on labor markets, household incomes, and poverty? Total employment fell by much less than production declines and even increased in some cases. However, these aggregates mask considerable churning in employment across sectors, employment status, and location. Economies that experienced the sharpest currency depreciations suffered the deepest cuts in real wages, though deeper cuts in real wages relative to Gross Domestic Product (GDP) were associated with smaller rises in unemployment. To some extent, families smoothed their incomes through increased labor force participation and private transfers, though the limited evidence available suggests that wealthier families were better able to smooth consumption. The initial impact of the crises was on the urban corporate sector, but rural households were affected as well and in some instances suffered deeper losses than did urban families. School enrollment declined, especially among poorer families, as did use of health facilities, but the impact on children's nutrition levels appears to vary. Crises have typically proved short-lived, but whether households plunged into poverty during a crisis is able to recover as the economy does remain an open question.
dc.formatapplication/pdf
dc.formattext/plain
dc.identifierhttp://documents.worldbank.org/curated/en/2002/01/17591989/impact-financial-crises-labor-markets-household-incomes-poverty-review-evidence
dc.identifierWorld Bank Research Observer
dc.identifierhttps://hdl.handle.net/10986/16460
dc.identifierhttps://doi.org/10.1596/16460
dc.identifier.urihttp://hdl.handle.net/123456789/416749
dc.languageEnglish
dc.languageen_US
dc.publisherWorld Bank, Washington, DC
dc.relationWorld Bank Research Observer
dc.rightsCC BY-NC-ND 3.0 IGO
dc.rightshttp://creativecommons.org/licenses/by-nc-nd/3.0/igo/
dc.rightsWorld Bank
dc.subjectAGGREGATE DEMAND
dc.subjectAGRICULTURAL EMPLOYMENT
dc.subjectAGRICULTURAL PRODUCTS
dc.subjectAGRICULTURAL WAGES
dc.subjectAVERAGE WAGE
dc.subjectBANKING CRISIS
dc.subjectBANKING SECTOR
dc.subjectBANKRUPTCIES
dc.subjectBENEFICIARIES
dc.subjectBORROWING
dc.subjectBUDGET DEFICITS
dc.subjectBUDGET SURPLUSES
dc.subjectCAPITAL FLOWS
dc.subjectCAPITAL OUTFLOWS
dc.subjectCOLLECTIVE BARGAINING
dc.subjectCONSUMER GOODS
dc.subjectCONSUMPTION SMOOTHING
dc.subjectCOST OF LIVING
dc.subjectCREDIT MARKETS
dc.subjectCRISES
dc.subjectCRISIS COUNTRIES
dc.subjectCRISIS COUNTRY
dc.subjectCURRENCY
dc.subjectCURRENCY BOARD
dc.subjectCURRENCY DEPRECIATION
dc.subjectCURRENCY DEPRECIATIONS
dc.subjectCURRENCY DEVALUATION
dc.subjectDEBT
dc.subjectDEBT CRISIS
dc.subjectDEFAULTS
dc.subjectDEFICITS
dc.subjectDEPOSITS
dc.subjectDEVELOPING COUNTRIES
dc.subjectDEVELOPMENT ECONOMICS
dc.subjectDISPLACED WORKERS
dc.subjectDISTRIBUTIONAL EFFECTS
dc.subjectDROUGHT
dc.subjectECONOMETRICS
dc.subjectECONOMIC CRISES
dc.subjectECONOMICS
dc.subjectEMPLOYMENT GROWTH
dc.subjectEMPLOYMENT IN AGRICULTURE
dc.subjectEMPLOYMENT PROGRAM
dc.subjectEMPLOYMENT RATE
dc.subjectEMPLOYMENT SHARE
dc.subjectEMPLOYMENT SITUATION
dc.subjectEMPLOYMENT STATUS
dc.subjectEXCHANGE RATE
dc.subjectEXPENDITURE
dc.subjectEXPENDITURES
dc.subjectEXPLICIT CONTRACTS
dc.subjectEXPORTER
dc.subjectFAMILY LABOR
dc.subjectFARMERS
dc.subjectFINANCIAL CRISES
dc.subjectFINANCIAL CRISIS
dc.subjectFIXED COSTS
dc.subjectFOOD CROP
dc.subjectFOOD CROPS
dc.subjectFOOD PRICES
dc.subjectFOREIGN CURRENCY
dc.subjectFOREIGN WORKERS
dc.subjectGOVERNMENT SPENDING
dc.subjectGROSS DOMESTIC PRODUCT
dc.subjectHIGH SCHOOL DROPOUT
dc.subjectHIGH UNEMPLOYMENT
dc.subjectHIGH UNEMPLOYMENT RATES
dc.subjectHOUSEHOLD COMPOSITION
dc.subjectHOUSEHOLD CONSUMPTION
dc.subjectHOUSEHOLD INCOME
dc.subjectHOUSEHOLD INCOMES
dc.subjectHOUSEHOLD SURVEY
dc.subjectHUMAN RESOURCES
dc.subjectIDIOSYNCRATIC SHOCKS
dc.subjectIMPLICIT CONTRACTS
dc.subjectINCIDENCE OF POVERTY
dc.subjectINCOME DISTRIBUTION
dc.subjectINCOME INEQUALITIES
dc.subjectINCOME INEQUALITY
dc.subjectINCOME SHOCK
dc.subjectINFLATION
dc.subjectINFORMAL CREDIT
dc.subjectINTERNATIONAL BANK
dc.subjectINTERNATIONAL DEVELOPMENT
dc.subjectINTERNATIONAL ECONOMICS
dc.subjectINTERNATIONAL MIGRATION
dc.subjectJOB RETENTION
dc.subjectJOB SEPARATION
dc.subjectJOBS
dc.subjectLABOR DEMAND
dc.subjectLABOR FORCE
dc.subjectLABOR FORCE PARTICIPATION
dc.subjectLABOR MARKET
dc.subjectLABOR MARKET ADJUSTMENT
dc.subjectLABOR MARKET CONDITIONS
dc.subjectLABOR MARKETS
dc.subjectLABOR PRODUCTIVITY
dc.subjectLABOR SUPPLY
dc.subjectLABORERS
dc.subjectLABOUR
dc.subjectLABOUR MARKET
dc.subjectLABOUR OFFICE
dc.subjectLABOUR STATISTICS
dc.subjectLACK OF CREDIT
dc.subjectLAID-OFF WORKERS
dc.subjectLANDLESS LABORERS
dc.subjectLAYOFFS
dc.subjectLEVY
dc.subjectLOCAL CURRENCIES
dc.subjectLOSS OF CONFIDENCE
dc.subjectMACROECONOMIC CRISES
dc.subjectMALNUTRITION
dc.subjectMANUFACTURING WAGES
dc.subjectMICROCREDIT
dc.subjectMICROFINANCE
dc.subjectMICROFINANCE INSTITUTIONS
dc.subjectMIGRANT LABOR
dc.subjectMINIMUM WAGE
dc.subjectMONETARY POLICIES
dc.subjectMONETARY POLICY
dc.subjectMONEY SUPPLY
dc.subjectMORTALITY
dc.subjectNEW POOR
dc.subjectNOMINAL INTEREST RATES
dc.subjectNOMINAL WAGES
dc.subjectNUTRITION
dc.subjectOPEN UNEMPLOYMENT
dc.subjectOPPORTUNITY COST
dc.subjectPAID WORKERS
dc.subjectPER CAPITA CONSUMPTION
dc.subjectPOOR
dc.subjectPOOR FAMILIES
dc.subjectPOVERTY INCIDENCE
dc.subjectPOVERTY LINE
dc.subjectPOVERTY REDUCTION
dc.subjectPRIMARY SCHOOL
dc.subjectPRIVATE TRANSFERS
dc.subjectPUBLIC INVESTMENT
dc.subjectPUBLIC SAFETY NETS
dc.subjectPUBLIC SECTOR EMPLOYMENT
dc.subjectPUBLIC SPENDING
dc.subjectPUBLIC WORKS
dc.subjectPUBLIC WORKS PROGRAMS
dc.subjectREAL EXCHANGE RATE
dc.subjectREAL INTEREST
dc.subjectREAL INTEREST RATES
dc.subjectREAL WAGE
dc.subjectREAL WAGES
dc.subjectREMITTANCES
dc.subjectRETENTION RATE
dc.subjectRETURN
dc.subjectRETURNS
dc.subjectRURAL
dc.subjectRURAL AREAS
dc.subjectRURAL BANKS
dc.subjectRURAL FAMILIES
dc.subjectRURAL HOUSEHOLD
dc.subjectRURAL HOUSEHOLDS
dc.subjectRURAL POOR
dc.subjectRURAL POVERTY
dc.subjectRURAL SECTOR
dc.subjectRURAL WAGES
dc.subjectRURAL WOMEN
dc.subjectSAFETY
dc.subjectSAFETY NET
dc.subjectSAFETY NETS
dc.subjectSERVANTS
dc.subjectSERVICE SECTORS
dc.subjectSHORT-TERM CAPITAL
dc.subjectSKILLED WORKERS
dc.subjectSOCIAL DEVELOPMENT
dc.subjectSOCIAL IMPACTS
dc.subjectSOCIAL SAFETY NETS
dc.subjectSOCIAL SECURITY
dc.subjectSOCIAL SPENDING
dc.subjectSTRUCTURAL ADJUSTMENT
dc.subjectTARGETING
dc.subjectTOTAL EMPLOYMENT
dc.subjectTRADE CREDIT
dc.subjectTRANSFER BENEFITS
dc.subjectTRANSFER PROGRAMS
dc.subjectTRANSPORT
dc.subjectTURNOVER
dc.subjectUNEMPLOYED
dc.subjectUNEMPLOYMENT
dc.subjectUNEMPLOYMENT RATE
dc.subjectUNPAID FAMILY WORKERS
dc.subjectUNSKILLED WORKERS
dc.subjectURBAN EMPLOYMENT
dc.subjectURBAN EMPLOYMENT SURVEY
dc.subjectURBAN WORKERS
dc.subjectWAGE DISTRIBUTION
dc.subjectWAGE EMPLOYMENT
dc.subjectWAGE GROWTH
dc.subjectWAGE LEVELS
dc.subjectWAGE RATE
dc.subjectWAGE RIGIDITY
dc.subjectWAGE SECTOR
dc.subjectWITHDRAWAL
dc.subjectWORKER
dc.subjectWORKERS
dc.subjectWORKING CAPITAL
dc.subjectWORKING HOURS
dc.titleThe Impact of Financial Crises on Labor Markets, Household Incomes, and Poverty : A Review of Evidence
dc.typeJournal Article
dc.typeArticle de journal
dc.typeArtículo de revista

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