The Time-Varying Long-Run Unemployment Rate: The Colombian Case
AbstractThe long-run component of the Colombian unemployment rate is estimated for the last twenty years. According to the results, the main determinants of the permanent component of the unemployment rate are the real hourly wage, the non-wage labor costs and the rate of capital accumulation. Given the statistical properties of the variables, a cointegration approach was adopted.
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Bibliographic InfoPaper provided by Banco de la Republica de Colombia in its series Borradores de Economia with number 389.
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Unemployment rate; labor costs; capital accumulation; cointegration;
Find related papers by JEL classification:
- J32 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Nonwage Labor Costs and Benefits; Private Pensions
- J23 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Demand
- J60 - Labor and Demographic Economics - - Mobility, Unemployment, and Vacancies - - - General
- E24 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution
- C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models
This paper has been announced in the following NEP Reports:
- NEP-ALL-2006-04-08 (All new papers)
- NEP-LAB-2006-04-08 (Labour Economics)
- NEP-LAM-2006-04-08 (Central & South America)
- NEP-MAC-2006-04-08 (Macroeconomics)
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