Número:
208
Publicado:
Clasificación JEL:
C32, J31, J64
Palabras clave:
Unemployment, wage disequilibrium, Cointegration, non-linearities
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This paper estimates an asymmetric error correction model to analyse the dynamic behaviour of the Colombian unemployment rate. We find evidence that wages above their long-run equilibrium level do increase unemployment, but wages below this level do not r