Determinants of Labor Demand in Colombia. 1976-1996


  • Colombia's unemployment rate rose to 20% during the late 1990s from less than 8% in 1994. This paper argues that this has been the result of high non-wage labor costs embodied in the legislation. The estimated own-wage labor demand elasticity is around -0.5, which implies that a reduction in those costs, while politically costly, can have a significant payoff in terms of equity and efficiency.

fecha de publicación

  • 2004

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