On the dynamics of unemployment in a developing economy: Colombia

Ana Iregui and Jesus Otero

Applied Economics Letters, 2003, vol. 10, issue 14, 895-898

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.

Date: 2003
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Related works:
Working Paper: On the Dynamics of Unemployment in a Developing Economy: Colombia (2002)
Working Paper: ON THE DYNAMICS OF UNEMPLOYMENT IN A DEVELOPING ECONOMY: COLOMBIA (2002)
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Persistent link: https://EconPapers.repec.org/RePEc:taf:apeclt:v:10:y:2003:i:14:p:895-898

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DOI: 10.1080/1350485032000162811

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