Wage-setting Decisions on Newly Hired Employees: Survey Evidence from Colombian Firms

Borradores de Economia
Number: 
632
Published: 
Classification JEL: 
C25, J30, J50
Keywords: 
Human capital agglomeration, Social returns, Private returns, Externalities, Uncertainty, Fiscal policy
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This paper uses a survey on wage formation that was applied to 1,305 Colombian firms to study wage-setting decisions with respect to newly hired employees. The Colombian case is interesting, since the country?s labour market performance, especially its un