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El comportamiento de la oferta laboral y de la tasa de desempleo : indeterminacion teorica e incertidumbre empirica

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  • Lopez Castaño, Hugo

Abstract

One of the traditional cornerstones in economic 'theory -mainly in the Neoclassical school- has been the notion of labor as a commodity and the determination in the labor market of its price and quantity, traded by means of the demand and supply functions -independently generated. If employment and wages are only a special case of the theory of exchange then all theories, including the ones of production and accumulation, could stand over this base. However this project has -even in its simpler versions- its Achile's heel: the theoretical uncertainty about the shape of the labor supply function, due to ambiguous effect of wage changes. In the case of an economy, like the Colombian -with a high long-standing level of unemployment- the theoretical uncertainty is associated with an empirical one: the parallel behavior of the supply and demand of labor functions, in the medium and short terms, destroys the hypothesis of their genetic independence and the behavior of the rate of unemployment is undetermined. The rate of unemployment is not a trustable indicator of the labor market situation.

Suggested Citation

  • Lopez Castaño, Hugo, 1985. "El comportamiento de la oferta laboral y de la tasa de desempleo : indeterminacion teorica e incertidumbre empirica," Lecturas de Economía, Universidad de Antioquia, Departamento de Economía, issue 16, pages 41-62.
    • Handle: RePEc:lde:journl:y:1985:i:16:p:41-62
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