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

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 sugges...

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Detalles Bibliográficos
Autores Principales: Arango-Thomas, Luis Eduardo, Posada, Carlos Esteban
Formato: Documento de trabajo (Working Paper)
Lenguaje:Español (Spanish)
Publicado: Banco de la República 2001
Materias:
Acceso en línea:http://repositorio.banrep.gov.co/handle/20.500.12134/5198