Okun´s law in Colombia: a non-linear cointegration

This paper identifies Okun´s law in Colombia between 1984 and 2016 using a Vector Error Correction Model (VECM) as there is evidence of a long-term relationship between the unemployment rate and the GDP. Results suggest that after a one percent increase in GDP, the unemployment rate is reduced by...

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Detalles Bibliográficos
Autores Principales: Flórez, Luz Adriana, Pulido-Mahecha, Karen L., Ramos-Veloza, Mario Andrés
Formato: Documento de trabajo (Working Paper)
Lenguaje:Inglés (English)
Publicado: Banco de la República de Colombia 2018
Materias:
Acceso en línea:http://repositorio.banrep.gov.co/handle/20.500.12134/7010