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La elasticidad de Frisch y la transmisión de la política monetaria en Colombia

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  • Juan David Prada Sarmiento
  • Luis Eduardo Rojas Dueñas

Abstract

Este artículo estudia el mecanismo de transmisión de la política monetaria a través delos salarios reales y la oferta de trabajo. El trade-off inflación producto depende de lacalificación de los trabajadores y de la elasticidad de la oferta de trabajo al salario real.Se plantea un modelo teórico simple que incorpora la segmentación entre trabajadorescalificados y no calificados y las restricciones en el acceso al sistema financiero. Utilizandoel método generalizado de momentos se estima la elasticidad de Frisch de la oferta detrabajo. Se construyeron series de salarios representativos y de horas ofrecidas al mercado,utilizando una aproximación diferente a la encontrada en la literatura en general, queutiliza el número de horas trabajadas. La estimación puntual arrojó una elasticidad deFrisch de 0;31 y una elasticidad de sustitución intertemporal de 0;42. La oferta laborales inelástica en Colombia, generando que los costos en términos de producción de laestabilización de precios sean importantes.

Suggested Citation

  • Juan David Prada Sarmiento & Luis Eduardo Rojas Dueñas, 2009. "La elasticidad de Frisch y la transmisión de la política monetaria en Colombia," Borradores de Economia 5404, Banco de la Republica.
    • Handle: RePEc:col:000094:005404
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    1. Andrés González & Sergio Ocampo & Diego Rodríguez & Norberto Rodríguez, 2012. "Asimetrías del empleo y el producto, una aproximación de equilibrio general," Revista ESPE - Ensayos Sobre Política Económica, Banco de la República, vol. 30(68), pages 218-272, June.
    2. Paula Andrea Beltrán-Saavedra, 2015. "Precio del petróleo y el ajuste de las tasas de interés en las economías emergentes," Borradores de Economia 13619, Banco de la Republica.
    3. Luis Eduardo Arango & Wilmar Cabrera & Esteban Gómez & Juan Carlos Mendoza, 2013. "Tasa de interés de largo plazo, interés técnico y pasivo pensional," Borradores de Economia 796, Banco de la Republica de Colombia.
    4. Aguirre B., Carlos & Aliaga L., Javier & Herrera J., Alejandro, 2015. "Cerrando el Círculo: La Educación Superior, el Desarrollo de la Ciencia y Tecnología y el Sistema de Innovación en Bolivia," Documentos de trabajo 9/2015, Instituto de Investigaciones Socio-Económicas (IISEC), Universidad Católica Boliviana.

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    More about this item

    Keywords

    Elasticidad de Frisch; oferta laboral; política monetaria; Colombia;
    All these keywords.

    JEL classification:

    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • E50 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - General
    • J22 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Time Allocation and Labor Supply

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