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Ocupación en la economía informal, mercado laboral urbano y crecimiento económico, 2001–2019: un análisis vectorial de corrección de errores

Author

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  • Francisco José Pérez Torres

Abstract

For just about four decades the country exhibits a considerable level of ocupation generated in the Informal Economy with important links related to the minimum wage, urban unemployment, employment in the sectors of manufacturing, commerce and services and with the economic growth. Since these variables do not move in the time independently one of another and mutually influence each other, this work studies the degree of importance of them to explain the movements experienced in the occupation generated in the field of Informal Economy. Through an MVCE, is verified the existence of long-term equilibrium relationships between these variables, and by analyzing the impulse response and variance decomposition functions, it is shown how each one responds to stochastic shocks that may be registered. The results found have certain implications for the formulation of policies that seek to reduce the Informal Economy and the occupation generated in this.

Suggested Citation

  • Francisco José Pérez Torres, 2020. "Ocupación en la economía informal, mercado laboral urbano y crecimiento económico, 2001–2019: un análisis vectorial de corrección de errores," Econógrafos, Escuela de Economía 022832, Universidad Nacional de Colombia, FCE, CID.
    • Handle: RePEc:col:000176:022832
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    JEL classification:

    • C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • E26 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Informal Economy; Underground Economy
    • J21 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Force and Employment, Size, and Structure
    • O17 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Formal and Informal Sectors; Shadow Economy; Institutional Arrangements

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