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The cyclical behavior of separation and job finding rates in Colombia

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  • Viviana Alejandra Alfonso C.

    (Banco de la República de Colombia)

Abstract

This work uses readily accessible data about the stocks of unemployed workers, labor force and duration of unemployment to measure the job finding and separation rates for Colombia from 1984 to 2014. It also evaluates the relative contribution of these rates to the fluctuations of unemployment rate. It is found that contemporaneous movements in both rates explain significantly and in roughly the same proportion the changes in the unemployment rate during the analyzed period; however, for the last seven years job finding rate has driven the unemployment fluctuations. The results of this work differ from previous findings by Lasso (2011) where the separation rate is the most important in Colombia. Results are contrasted with the obtained for France and United States to show that Colombian unemployment is of European nature but has United States’ features.

Suggested Citation

  • Viviana Alejandra Alfonso C., 2015. "The cyclical behavior of separation and job finding rates in Colombia," Borradores de Economia 910, Banco de la Republica de Colombia.
    • Handle: RePEc:bdr:borrec:910
    DOI: 10.32468/be.910
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    References listed on IDEAS

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    1. Lasso-Valderrama, Francisco Javier, 2012. "La dinámica del desempleo urbano en Colombia," Chapters, in: Arango-Thomas, Luis Eduardo & Hamann-Salcedo, Franz Alonso (ed.), El mercado de trabajo en Colombia : hechos, tendencias e instituciones, chapter 3, pages 131-166, Banco de la Republica de Colombia.
    2. Pissarides, C A, 1979. "Job Matchings with State Employment Agencies and Random Search," Economic Journal, Royal Economic Society, vol. 89(356), pages 818-833, December.
    3. Gary Solon & Ryan Michaels & Michael W. L. Elsby, 2009. "The Ins and Outs of Cyclical Unemployment," American Economic Journal: Macroeconomics, American Economic Association, vol. 1(1), pages 84-110, January.
    4. Rogerson, Richard & Shimer, Robert, 2011. "Search in Macroeconomic Models of the Labor Market," Handbook of Labor Economics, in: O. Ashenfelter & D. Card (ed.), Handbook of Labor Economics, edition 1, volume 4, chapter 7, pages Pages: 61, Elsevier.
    5. Barbara Petrongolo & Christopher A. Pissarides, 2008. "The Ins and Outs of European Unemployment," American Economic Review, American Economic Association, vol. 98(2), pages 256-262, May.
    6. J. J. McCall, 1970. "Economics of Information and Job Search," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 84(1), pages 113-126.
    7. Shigeru Fujita & Garey Ramey, 2009. "The Cyclicality Of Separation And Job Finding Rates," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 50(2), pages 415-430, May.
    8. Rafael Puyana & Mario Andrés Ramos & Héctor Zarate, 2011. "Determinantes del subempleo en Colombia: Un enfoque a través de la compensación salarial," Borradores de Economia 652, Banco de la Republica de Colombia.
    9. Francisco Javier LASSO VALDERRAMA, 2002. "Nueva metodología de Encuesta de hogares. ¿Más o menos desempleados?," Archivos de Economía 3282, Departamento Nacional de Planeación.
    10. Hairault, Jean-Olivier & Le Barbanchon, Thomas & Sopraseuth, Thepthida, 2015. "The cyclicality of the separation and job finding rates in France," European Economic Review, Elsevier, vol. 76(C), pages 60-84.
    11. Mortensen, Dale T, 1970. "Job Search, the Duration of Unemployment, and the Phillips Curve," American Economic Review, American Economic Association, vol. 60(5), pages 847-862, December.
    12. Michael W. L. Elsby & Bart Hobijn & Ayşegül Şahin, 2013. "Unemployment Dynamics in the OECD," The Review of Economics and Statistics, MIT Press, vol. 95(2), pages 530-548, May.
    13. Robert Shimer, 2012. "Reassessing the Ins and Outs of Unemployment," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 15(2), pages 127-148, April.
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    Cited by:

    1. Luis Eduardo Arango & Freddy Felipe Parra-Escobar & Álvaro José Pinzón-Giraldo, 2016. "El ciclo económico y el mercado de trabajo en Colombia: 1984-2014," Revista ESPE - Ensayos Sobre Política Económica, Banco de la República, vol. 34(81), pages 206-228, November.
    2. Andrés Álvarez, 2016. "La Curva de Beveridge en Colombia (1976-2014): Cambios cíclicos y estructurales," Borradores de Economia 962, Banco de la Republica de Colombia.
    3. Francisco Lasso-Valderrama, 2020. "LA DINÁMICA DEL MERCADO LABORAL COLOMBIANO: Cuál es el rol de los flujos de trabajadores?," Borradores de Economia 1120, Banco de la Republica de Colombia.

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    More about this item

    Keywords

    Job finding rate; separation rate; business cycle; unemployment;
    All these keywords.

    JEL classification:

    • J63 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Turnover; Vacancies; Layoffs
    • J64 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Unemployment: Models, Duration, Incidence, and Job Search
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles

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