The Time-Varying Long-Run Unemployment Rate: The Colombian Case

The long-run component of the Colombian unemployment rate is estimated for the last twenty years. According to the results, the main determinants of the permanent component of the unemployment rate are the real hourly wage, the non-wage labor costs and the rate of capital accumulation. Given the statistical properties of the variables, a cointegration approach was adopted.

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Authors:	Arango, Luis Eduardo ; Posada, Carlos Esteban
Institutions:	Banco de la Republica de Colombia
Subject:	Unemployment rate \| labor costs \| capital accumulation \| cointegration

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Extent:	application/pdf
Series:	Borradores de Economia.
Type of publication:	Book / Working Paper
Language:	English
Classification:	J32 - Nonwage Labor Costs and Benefits; Private Pensions ; J23 - Employment Determination; Job Creation; Demand for Labor; Self-Employment ; J60 - Mobility, Unemployment, and Vacancies. General ; E24 - Employment; Unemployment; Wages ; C32 - Time-Series Models
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005489398