¿Existe rigidez en el ajuste del empleo en Chile?
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| Format: | Artículo científico |
| Language: | es |
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Fondo de Cultura Económica
2017
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| _version_ | 1876430936177901568 |
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| author | Jorge Dresdner |
| author_facet | Jorge Dresdner |
| contents | ¿Existe rigidez en el ajuste del empleo en Chile? Jorge Dresdner Leonardo Salazar Miguel Quiroga Andrés Riquelme Grethel Zurita Economía y Finanzas J64 E24 E32 rigidities Asian crisis Background: We study how aggregate employment adjusted in the Chilean eco- nomy to the so called Asian Crisis. We test different hypotheses used in the public debate, although not formally tested, that try to explain the sluggish re- covery of employment after the crisis. Methods: We specify and estimate a vector autoregressive model with time series for the quarterly period 1995.1-2007.4 and apply the Johansen method to iden- tify cointegration vectors. Results: We estimate one cointegration vector that represents the labor demand function. We perform hypothesis testing on this function: zero degree homoge- neity in prices; unitary product demand elasticity; structural break in the labor demand function intercept; change in the long run product demand elasticity between sub-periods; existence of adjustment costs. Conclusions: The income elasticity of demand was unstable after the crisis, although not in the sense suggested by the previous debate. The more decisive factor in the slow recovery was the prevailing labor costs of adjustment in the Chilean economy. 2017 artículo científico 0041-3011 https://www.redalyc.org/articulo.oa?id=31349242002 es http://www.redalyc.org/revista.oa?id=313 El Trimestre Económico application/pdf Fondo de Cultura Económica El Trimestre Económico (México) Num.333 Vol.84 |
| format | Artículo científico |
| id | redalyc_31349242002 |
| institution | Redalyc |
| language | es |
| publishDate | 2017 |
| publisher | Fondo de Cultura Económica |
| spellingShingle | ¿Existe rigidez en el ajuste del empleo en Chile? Jorge Dresdner Economía y Finanzas J64 E24 E32 rigidities Asian crisis ¿Existe rigidez en el ajuste del empleo en Chile? Jorge Dresdner Leonardo Salazar Miguel Quiroga Andrés Riquelme Grethel Zurita Economía y Finanzas J64 E24 E32 rigidities Asian crisis Background: We study how aggregate employment adjusted in the Chilean eco- nomy to the so called Asian Crisis. We test different hypotheses used in the public debate, although not formally tested, that try to explain the sluggish re- covery of employment after the crisis. Methods: We specify and estimate a vector autoregressive model with time series for the quarterly period 1995.1-2007.4 and apply the Johansen method to iden- tify cointegration vectors. Results: We estimate one cointegration vector that represents the labor demand function. We perform hypothesis testing on this function: zero degree homoge- neity in prices; unitary product demand elasticity; structural break in the labor demand function intercept; change in the long run product demand elasticity between sub-periods; existence of adjustment costs. Conclusions: The income elasticity of demand was unstable after the crisis, although not in the sense suggested by the previous debate. The more decisive factor in the slow recovery was the prevailing labor costs of adjustment in the Chilean economy. 2017 artículo científico 0041-3011 https://www.redalyc.org/articulo.oa?id=31349242002 es http://www.redalyc.org/revista.oa?id=313 El Trimestre Económico application/pdf Fondo de Cultura Económica El Trimestre Económico (México) Num.333 Vol.84 |
| title | ¿Existe rigidez en el ajuste del empleo en Chile? |
| topic | Economía y Finanzas J64 E24 E32 rigidities Asian crisis |
| url | https://www.redalyc.org/articulo.oa?id=31349242002 |