Abstract

RAMOS, Cristina Isabel  and  ALVAREZ GARCIA, Rubén Darío. The natural rate of unemployment in Colombia 2001-2018: evolution and estimates. Entramado [online]. 2020, vol.16, n.1, pp.76-93. ISSN 1900-3803.  https://doi.org/10.18041/1900-3803/entramado.1.6128.

The purpose of this work is to estimate the natural rate of unemployment for Colombia and compare the results with the estimates that have been previously made. An Expectations-Augmented Phillips Curve is estimated, with quarterly data for the period 200I-20I8, using the method of Ordinary Least Squares and the Generalized Method of Moments. The results show that there is no Philips curve in Colombia for the period analyzed, and a natural rate of unemployment of 6.23%.

JEL CLASSIFICATION J21, J64, E24

Keywords : Unemployment; inflation; labor market; Phillips curve; natural rate of unemployment.

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