Person:
Zeufack, Albert G.

Office of the Chief Economist for Africa Region
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Zeufack, Albert (ed.)
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Micro-foundations of macroeconomics
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Office of the Chief Economist for Africa Region
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Last updated: April 3, 2023
Biography
Albert G. Zeufack is the World Bank Country Director for Angola, Burundi, the Democratic Republic of Congo, and Sao Tome and Principe. Prior to this assignment, from 2016 to 2022, Dr. Zeufack held the position of Chief Economist for the World Bank’s Africa region. A Cameroonian national, Dr. Zeufack joined the World Bank in 1997 as a Young Professional and started his career as a research economist in the macroeconomics division of the research department. Since then, he has held several positions in the World Bank’s Africa, East Asia and Pacific, and Europe and Central Asia regions. Between 2008 and 2012, when on leave from the World Bank, he served as Director of Research and Investment Strategy/Chief Economist for Khazanah Nasional Berhad, a Malaysian Sovereign Wealth Fund. He previously worked as Director of Research at the Natural Resource Governance Institute, and before that he co-founded the Natural Resource Charter.
Citations 11 Scopus

Publication Search Results

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  • Publication
    Risk Sharing in Labor Markets
    (Washington, DC: World Bank, 2003-09) Bigsten, Arne; Collier, Paul; Dercon, Stefan; Fafchamps, Marcel; Gauthier, Bernard; Gunning, Jan Willem; Oduro, Abena; Oostendorp, Remco; Pattillo, Cathy; Soderbom, Mans; Teal, Francis; Zeufack, Albert
    Empirical work in labor economics has focused on rent sharing as an explanation for the observed correlation between wages and profitability. The alternative explanation of risk sharing between workers and employers has not been tested. Using a unique panel data set for four African countries, Authors find strong evidence of risk sharing. Workers in effect offer insurance to employers: when firms are hit by temporary shocks, the effect on profits is cushioned by risk sharing with workers. Rent sharing is a symptom of an inefficient labor market. Risk sharing; by contrast, can be seen as an efficient response to missing markets. Authors evidence suggests that risk sharing accounts for a substantial part of the observed effect of shocks on wages.