Céspedes Reynaga, Nikita; Rendón, Sílvio - 2012
Frisch elasticity. We estimate Frisch elasticity at around 0.38, which indicates fairly adjustable wages and little reaction …We estimate Frisch elasticity in a labor market with high job turnover. In a context where only around 18% of the … employed labor force has formal and stable jobs, we perform a fixed effects estimation as proposed by MaCurdy (1981) with a …