 Salarios, demanda agregada y desempeño económico en Colombia: un debate no resueltoWages, aggregate demand and economic performance in Colombia: an unsolved debateOsmar Loaiza Quintero and Ana Milena Sierra Ríos MPRA Paper from University Library of Munich, Germany Abstract: According to neoclassical economic theory, there is a negative relationship between real wages, and the level of output and employment. Therefore, neoclassical theory tends to favor policy measures that seek to diminish real wages and deregulate the labor market, explaining that poor economic performance and high unemployment is the result of sticky real wages. However, there are theories that hold an opposite point of view, which shows the issue is far from settled. One of them is explained briefly in this paper using a simple kaleckian model. Using de Bhaduri y Marglin (1990) macro-model, in which salaries may be related both negatively or positively to the level of output, empirical estimations are made to find what´s the nature of the relation between this two variables in Colombia. It is found that there is a positive relationship between the internal sector of the economy and the level of real wages. However, exports are negatively affected by salaries. Results seem to show that the total effect of real wages on output is negative. Keywords: Aggregate demand; job market; unemployment; post-keynesian economics (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:42669 Access Statistics for this paper More papers in MPRA Paper from University Library of Munich, Germany Ludwigstraße 33, D-80539 Munich, Germany. Contact information at EDIRC. |
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