On the dynamics of unemployment in a developing economy: Colombia

Ana María Iregui, Jesús Otero

Research output: Contribution to journalArticlepeer-review

4 Scopus citations

Abstract

This paper estimates an asymmetric error correction model to analyse the dynamic behaviour of the Colombian unemployment rate. It is found that wages above their long-run equilibrium level do increase unemployment, but wages below this level do not reduce it. This finding provides evidence of the existence of hysteresis in the Colombian unemployment rate.

Original languageEnglish (US)
Pages (from-to)895-898
Number of pages4
JournalApplied Economics Letters
Volume10
Issue number14
DOIs
StatePublished - Nov 15 2003

All Science Journal Classification (ASJC) codes

  • Economics and Econometrics

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