An Estimation of a Labor Market Model for Mexico (1973–2006)
DOI:
https://doi.org/10.29201/peipn.v2i4.250Keywords:
Forecasting and simulation, employment, unemployment, wages, labor forceAbstract
This paper presents a dynamic econometric model of labor demand and supply for Mexico. The long term labor demand depends positively on the Gross Domestic Product (GDP) and negatively on the real wages. An equation that behaves as a wage curve in the long run and as a Phillips curve in the short term reflects the labor supply. The model is estimated combining techniques of simultaneous equations with error correction mechanisms.
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