Employment, Unemployment and Real Wage: An analysis of the Labor Market in Medellín City (1995-2006)
AbstractThe 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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Bibliographic InfoArticle provided by Universidad de Antioquia, Departamento de Economía in its journal LECTURAS DE ECONOMÍA.
Volume (Year): (2008)
Issue (Month): 69 (Julio-Diciembre)
Postal: Lecturas de Economía, Departamento de Economía, Calle 67, 53-108, Medellin 050010, Colombia.
Find related papers by JEL classification:
- C5 - Mathematical and Quantitative Methods - - Econometric Modeling
- E22 - Macroeconomics and Monetary Economics - - 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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