The Time-Varying Long-Run Unemployment Rate: The Case Colombian

Luis Arango Thomas and Carlos Posada

No 3629, Borradores de Economia from Banco de la Republica

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: E24 J23 J32 J60 (search for similar items in EconPapers)
Pages: 14
Date: 2006-03-30
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:col:000094:003629

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