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Unemployment rate and the real wage behavior: a neoclassical hint for the colombian labor market adjustment
dc.creator | Arango-Thomas, Luis Eduardo |
dc.creator | Posada, Carlos Esteban |
dc.date.created | 2001-06-18 |
dc.date.issued | 2001-06-18 |
dc.identifier.uri | https://repositorio.banrep.gov.co/handle/20.500.12134/5198 |
dc.description | The Colombian urban unemployment rate grew dramatically over the last six years. At the same time the real wage also had a sharp increase. The empirical evidence supports the hypothesis that an exogenous increase in the real wage was a cause of the unemployment growth. The long-run elasticity suggests that one percent increase of the real wage index increases unemployment rate something between 0.7 and 1.0 percent. Therefore it seems necessary that real wage comes back to its equilibrium path for the reduction of the unemployment rate to the natural level. |
dc.format.mimetype | |
dc.language.iso | spa |
dc.publisher | Banco de la República |
dc.relation.ispartof | Documentos de Trabajo |
dc.relation.ispartofseries | Borradores de Economía |
dc.relation.isversionof | Borradores de Economía; No. 180 |
dc.rights.accessRights | Open Access |
dc.rights.uri | https://creativecommons.org/licenses/by-nc-sa/4.0/ |
dc.title | Unemployment rate and the real wage behavior: a neoclassical hint for the colombian labor market adjustment |
dc.type | Working Paper |
dc.subject.jel | J30 - Wages, Compensation, and Labor Costs: General |
dc.subject.jel | E24 - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity |
dc.subject.keyword | Unemployment |
dc.subject.keyword | Wage |
dc.subject.keyword | Neoclassica |
dc.subject.keyword | Labor market adjustment |
dc.subject.lemb | Desempleo -- Colombia |
dc.subject.lemb | Salarios -- Colombia |
dc.subject.lemb | Mercado laboral -- Colombia |
dc.type.spa | Documentos de trabajo |
dc.rights.spa | Acceso abierto |
dc.rights.cc | Atribucion-NoComercial-CompartirIgual CC BY-NC-SA 4.0 |
dc.subject.jelspa | J30 - Salarios, remuneraciones y costes laborales: Generalidades |
dc.subject.jelspa | E24 - Empleo; Desempleo; Salarios; Distribución intergeneracional de ingresos; Capital humano agregado; Productividad del trabajo agregada |
dc.type.hasversion | Published Version |
dc.coverage.sucursal | Bogotá |
dc.relation.doi | https://doi.org/10.32468/be.180 |
dc.rights.disclaimer | Las opiniones contenidas en el presente documento son responsabilidad exclusiva de los autores y no comprometen al Banco de la República ni a su Junta Directiva. |
dc.relation.repec | https://ideas.repec.org/p/bdr/borrec/180.html |
dc.relation.dotec | https://ideas.repec.org/p/col/000094/003736.html |
dc.identifier.handle | https://hdl.handle.net/20.500.12134/5198 |
dc.creator.firma | Luis E. Arango |
dc.source.handleRepec | RePEc:col:000094:003736 |
dc.source.handleRepec | RePEc:bdr:borrec:180 |
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Borradores de Economía [1274]
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