Minimum wage and macroeconomic adjustment: insights from a small open, emerging, economy with formal and informal labor

by: Oscar Iván Ávila-Montealegre, Anderson Grajales-Olarte, Juan J. Ospina-Tejeiro, Mario A. Ramos-Veloza

Year of publication:	[2023]
Authors:	Ávila-Montealegre, Oscar Iván ; Grajales-Olarte, Anderson ; Ospina-Tejeiro, Juan J. ; Ramos-Veloza, Mario A.
Publisher:	Bogotá, Colombia : Banco de la Republica Colombia
Subject:	DSGE model \| minimum wage \| informal labor markets \| monetary policy \| heterogeneous agents \| Mindestlohn \| Minimum wage \| Informelle Wirtschaft \| Informal economy \| Geldpolitik \| Monetary policy \| Kleine offene Volkswirtschaft \| Small open economy \| Theorie \| Theory \| Arbeitsmarkt \| Labour market \| Dynamisches Gleichgewicht \| Dynamic equilibrium \| Schock \| Shock \| Beschäftigungseffekt \| Employment effect