Determinants of Labor Demand in Colombia, 1976-1996
Mauricio Cardenas () and
No 72A, CID Working Papers from Center for International Development at Harvard University
Colombia's unemployment rate rose to 20% during the late 1990s from less than 8% in 1994. This paper argues that this has been the result of high non-wage labor costs embodied in the legislation. The estimated own-wage labor demand elasticity is around -0.5, which implies that a reduction in those costs, while politically costly, can have a significant payoff in terms of equity and efficiency.
Keywords: labor demand; non-wage labor costs; labor legislation (search for similar items in EconPapers)
JEL-codes: J23 O15 O54 (search for similar items in EconPapers)
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Chapter: Determinants of Labor Demand in Colombia. 1976-1996 (2004)
Working Paper: Determinants of Labor Demand in Colombia: 1976-1996 (2003)
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Persistent link: https://EconPapers.repec.org/RePEc:cid:wpfacu:72a
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