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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
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:bdr:borrec:389

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More papers in Borradores de Economia from Banco de la Republica de Colombia Cra 7 # 14-78. Contact information at EDIRC.
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