Ramos, Raul; Duque, Juan C.; Surinach, Jordi - In: Economics Letters 109 (2010) 2, pp. 63-65
Using microdata from the 2002-2006 Colombian Continuous Household Survey, we find an elasticity of individual wages to local unemployment rates of -Â 0.07. However, the elasticity for informal workers is significantly higher, a result which is consistent with efficiency wage theoretical models...
