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Employment, Unemployment and Real Wage: An analysis of the Labor Market in Medellín City (1995-2006)

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Author Info
Carlos Andrés Cano Gamboa ()
Adriana María Ochoa Yepes () (Universidad EAFIT)
Abstract

The purpose of this article is to estimate a model determining the behavior of the variables of the labor market in order to ascertain the dynamics of transitory employment and real wage in Medellín and Valle de Aburrá between 1995 and 2006. The labor market was characterized by means of the neoclassical model of the labor market with simultaneous equations. It was found that people would be willing to accept a job at any income level and that the sensitivity of wages and employment with respect to output tends to increase in the long run.

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File URL: ftp://ftp.drivehq.com/cavasco/lecturas/numero69/n69a5.pdf
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Publisher Info
Article provided by Universidad de Antioquia, Departamento de Economía in its journal LECTURAS DE ECONOMÍA.

Volume (Year): (2008)
Issue (Month): 69 (Julio-Diciembre)
Pages: 115-139
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Handle: RePEc:lde:journl:y:2008:i:69:p:115-139

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Web page: http://economia.udea.edu.co
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Postal: Apartado Aéreo 1226, Medellín - Colombia

For technical questions regarding this item, or to correct its listing, contact: (Carlos Andrés Vasco Correa).

Related research
Keywords: Urban labor market; real wage; cost of capital; simultaneous equations;

Find related papers by JEL classification:
C5 - Mathematical and Quantitative Methods - - Econometric Modeling
E22 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment - - - Capital; Investment; Capacity
J20 - Labor and Demographic Economics - - Demand and Supply of Labor - - - General
L0 - Industrial Organization - - General

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This page was last updated on 2009-11-29.

This information is provided to you by IDEAS at the Department of Economics, College of Liberal Arts and Sciences, University of Connecticut using RePEc data on a server sponsored by the Society for Economic Dynamics.