Labour market frictions in global economic crisis: RBC model of Czech economy
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216224%3A14560%2F11%3A00053292" target="_blank" >RIV/00216224:14560/11:00053292 - isvavai.cz</a>
Result on the web
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DOI - Digital Object Identifier
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Alternative languages
Result language
angličtina
Original language name
Labour market frictions in global economic crisis: RBC model of Czech economy
Original language description
This paper deals with analysis of labour market frictions of Czech economy based on RBC model framework. Labour market frictions are modelled as aggregate costs that firms and workers face in the process of forming a match. The question of interest is how do the labour market frictions behave during business cycle and what are the implications for development of unemployment rate. The role of labour market frictions during recent global financial and subsequent economic crisis is investigated. Possiblestructural changes of economy caused by global crisis are considered as well. Explaining potential of labour market frictions concept is evaluated by comparison of marginal likelihood of different specifications of the model. To capture the changing structure of economy a recursive estimation method is employed. Sensitivity and identification analysis of estimated parameters is performed as well. Results confirm the importance of labour market frictions and suggest their procyclical natu
Czech name
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Czech description
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Classification
Type
D - Article in proceedings
CEP classification
AH - Economics
OECD FORD branch
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Result continuities
Project
<a href="/en/project/1M0524" target="_blank" >1M0524: Research center on competitiveness of Czech economy</a><br>
Continuities
P - Projekt vyzkumu a vyvoje financovany z verejnych zdroju (s odkazem do CEP)<br>S - Specificky vyzkum na vysokych skolach
Others
Publication year
2011
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Article name in the collection
Mathematical Methods in Economics 2011
ISBN
978-80-7431-058-4
ISSN
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e-ISSN
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Number of pages
6
Pages from-to
739-744
Publisher name
University of Economics in Prague, University of Economics in Bratislava
Place of publication
Praha
Event location
Jínská Dolina
Event date
Jan 1, 2011
Type of event by nationality
WRD - Celosvětová akce
UT code for WoS article
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