Ocupación en la economía informal, mercado laboral urbano y crecimiento económico, 2001–2019: un análisis vectorial de corrección de errores

Francisco José Pérez Torres

Econógrafos, Escuela de Economía from Universidad Nacional de Colombia, FCE, CID

Abstract: For just about four decades the country exhibits a considerable level of ocupation generated in the Informal Economy with important links related to the minimum wage, urban unemployment, employment in the sectors of manufacturing, commerce and services and with the economic growth. Since these variables do not move in the time independently one of another and mutually influence each other, this work studies the degree of importance of them to explain the movements experienced in the occupation generated in the field of Informal Economy. Through an MVCE, is verified the existence of long-term equilibrium relationships between these variables, and by analyzing the impulse response and variance decomposition functions, it is shown how each one responds to stochastic shocks that may be registered. The results found have certain implications for the formulation of policies that seek to reduce the Informal Economy and the occupation generated in this.

Keywords: Informal Economy; minimum wage; urban unemployment; employment; VEC model (search for similar items in EconPapers)
JEL-codes: C32 E24 E26 J21 O17 (search for similar items in EconPapers)
Pages: 59
Date: 2020-08
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Persistent link: https://EconPapers.repec.org/RePEc:col:000176:022832

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