Open AccessThe time-varying long-run unemployment rate: the colombian case
Author(s) -
Luis Eduardo Arango-Thomas,
Carlos Esteban Posada
Publication year - 2006
Language(s) - English
Resource type - Reports
DOI - 10.32468/be.389
Subject(s) - unemployment , unemployment rate , economics , econometrics , demographic economics , macroeconomics
The 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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