Titelaufnahme

Titel
Wage rigidities in Colombia : measurement, causes, and policy implications / Sonia A. Agudelo (Universitat Autònoma de Barcelona and Universidad de Medellín), Hector Sala (Universitat Autònoma de Barcelona and IZA) ; IZA, Institute of Labor Economics
VerfasserAgudelo Ayala, Sonia Alexandra In der Gemeinsamen Normdatei der DNB nachschlagen In Wikipedia suchen nach Sonia Alexandra Agudelo Ayala ; Sala, Hector In der Gemeinsamen Normdatei der DNB nachschlagen In Wikipedia suchen nach Hector Sala
KörperschaftForschungsinstitut zur Zukunft der Arbeit In der Gemeinsamen Normdatei der DNB nachschlagen In Wikipedia suchen nach Forschungsinstitut zur Zukunft der Arbeit
ErschienenBonn, Germany : IZA Institute of Labor Economics, March 2017
Ausgabe
Elektronische Ressource
Umfang1 Online-Ressource (29 Seiten) : Diagramme
SerieDiscussion paper ; no. 10669
URNurn:nbn:de:hbz:5:2-121050 Persistent Identifier (URN)
Zugriffsbeschränkung
 Das Dokument ist frei verfügbar.
Volltexte
Wage rigidities in Colombia [0.32 mb]
Links
Nachweis
Verfügbarkeit In meiner Bibliothek
Zusammenfassung

This paper evaluates the extent of wage rigidities in Colombia over a period, 2002-2014, in which the fall in unemployment was relatively slow with respect to sustained economic growth. Following Holden and Wulfsberg (2009), we compute a measure of downward real wage rigidity (DRWR) of 12.09%, four times bigger than their aggregate estimate for the OECD economies. Moreover, in contrast to the evidence for the advanced economies, the determinants of such rigidities show no connection to the wage bargaining system. Amid the absence of effective labor market institutions to make rigidities less prevalent, economic growth appears as the most powerful mechanism to ward them off. Under this light, we provide a stylized description of the wage setting rule in Colombia, compare it with the common one in the advanced economies, and call for a far-reaching reform of the Colombian wage bargaining setup.