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 | |
| State | Published - Nov 15 2003 |
UN SDGs
This output contributes to the following UN Sustainable Development Goals (SDGs)
-
SDG 8 Decent Work and Economic Growth
All Science Journal Classification (ASJC) codes
- Economics and Econometrics
Fingerprint
Dive into the research topics of 'On the dynamics of unemployment in a developing economy: Colombia'. Together they form a unique fingerprint.Cite this
- APA
- Author
- BIBTEX
- Harvard
- Standard
- RIS
- Vancouver