On the dynamics of unemployment in a developing economy: Colombia Academic Article

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Overview

journal

• Applied Economics Letters

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.

authors

• Otero Cardona, Jesús Gilberto
• Ana María Iregui

publication date

• 2003-11-15

edition

• 10

Research

keywords

• Colombia
• Developing Economies
• Error Correction Model
• Hysteresis
• Long-run Equilibrium
• Unemployment
• Unemployment Rate
• Wages

Identity

International Standard Serial Number (ISSN)

• 1350-4851

Digital Object Identifier (DOI)

• https://doi.org/10.1080/1350485032000162811

Additional Document Info

number of pages

• 4

start page

• 895

end page

• 898