The Time-Varying Long-Run Unemployment Rate: The Colombian Case
Luis Arango Thomas and
Carlos Posada
Borradores de Economia from Banco de la Republica de Colombia
Abstract:
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.
Keywords: Unemployment rate; labor costs; capital accumulation; cointegration (search for similar items in EconPapers)
JEL-codes: C32 E24 J23 J32 J60 (search for similar items in EconPapers)
Date: 2006-03
New Economics Papers: this item is included in nep-lab, nep-lam and nep-mac
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Citations: View citations in EconPapers (1)
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Persistent link: https://EconPapers.repec.org/RePEc:bdr:borrec:389
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