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| Pàgina inicial > Documents de recerca > Working papers > Wage setting in the Colombian manufacturing industry |
(Universitat Autònoma de Barcelona)| Publicació: | Bonn Institute for the Study of Labor 2015 |
| Descripció: | 36 pag. |
| Resum: | We show that wage setting in the Colombian manufacturing industry is not fundamentally driven by labor productivity in contrast to the standard theoretical prediction. On the contrary, internal institutional arrangements - payroll taxation,the minimum wage or the price wedge between manufacturing and consumption prices - together with a higher exposure to international trade - connected to the increasing globalization of the Colombian economy - appear as the crucial drivers. These findings lead us to question the political strategy followed to attain cost competitiveness in a context of growing exposure to international trade. Implementation of a true wage bargaining system is suggested as a critical policy target to prevent the disruptive economic consequences of the current wage setting mechanism and help rebalance the trade deficit. |
| Ajuts: | Ministerio de Economía y Competitividad ECO2012-31081 |
| Drets: | Tots els drets reservats.  |
| Llengua: | Anglès |
| Col·lecció: | Discussion paper (Institute for the Study of Labor) ; 8945 |
| Document: | Working paper |
| Matèria: | Wage setting ; Labor productivity ; Trade openness ; Payroll taxes ; Minimum wages ; Price wedge |
