The Time-Varying Long-Run Unemployment Rate: The Colombian Case

Borradores de Economia
Número: 
389
Publicado: 
Clasificación JEL: 
J32, J23, J60, E24, C32
Palabras clave: 
Unemployment rate, labor costs, capital accumulation, Cointegration

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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 th