Ítem
Solo Metadatos
On the dynamics of unemployment in a developing economy: Colombia
Título de la revista
Autores
Iregui A.M.
Otero Cardona, Jesús Gilberto
Resumen
Abstract
This paper estimates an asymmetric error correction model to analyse the dynamic behaviour of the Colombian unemployment rate. It is found that wages above their long-run equilibrium level do increase unemployment, but wages below this level do not reduce it. This finding provides evidence of the existence of hysteresis in the Colombian unemployment rate.
Palabras clave
Keywords
Error correction , Hysteresis , Unemployment , Wage determination , Colombia , South america
