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	PDF
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

Unemployment rate and the real wage behavior: a neoclassical hint for the colombian labor market adjustment

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