On the dynamics of unemployment in a developing economy: Colombia

Ana María Iregui; Jesús Otero

doi:10.1080/1350485032000162811

On the dynamics of unemployment in a developing economy: Colombia

Ana María Iregui, Jesús Otero

Faculty of Economics

Research output: Contribution to journal › Article › peer-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 language	English (US)
Pages (from-to)	895-898
Number of pages	4
Journal	Applied Economics Letters
Volume	10
Issue number	14
DOIs	https://doi.org/10.1080/1350485032000162811
State	Published - Nov 15 2003

All Science Journal Classification (ASJC) codes

Economics and Econometrics

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10.1080/1350485032000162811

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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.",

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On the dynamics of unemployment in a developing economy: Colombia

Abstract

All Science Journal Classification (ASJC) codes

UN SDGs

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