Investigating Differences Between the Czech and Slovak Labour Market Using a Small DSGE Model with Search and Matching Frictions

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216224%3A14560%2F13%3A00067841" target="_blank" >RIV/00216224:14560/13:00067841 - isvavai.cz</a>

Result on the web

<a href="http://auco.cuni.cz/mag/article/show/id/141" target="_blank" >http://auco.cuni.cz/mag/article/show/id/141</a>

DOI - Digital Object Identifier

—

Result language

angličtina

Original language name

Investigating Differences Between the Czech and Slovak Labour Market Using a Small DSGE Model with Search and Matching Frictions

Original language description

This contribution reveals some structural properties of the Czech and Slovak labour markets. A search and matching model incorporated into a small standard DSGE model is estimated using Bayesian techniques. Two sources of rigidities are implemented: wagebargaining mechanism and "search and matching" process matching workers and firms. The results show that the search and matching aspect provides satisfactory description of employment flows in both economies, and that the institutional characteristics do not differ too much in both economies. The model estimates provide interesting evidence that wage bargaining process is determined mainly by the power of firms. These results support the view of flexible wage environment in both economies. On the otherhand, firms are confronted by increasing vacancy posting costs that limit vacancies creation. Relative low separation rate provides evidence of reduced mobility of the workers.

Czech name

—

Czech description

—

Type

J_x - Unclassified - Peer-reviewed scientific article (Jimp, Jsc and Jost)

CEP classification

AH - Economics

OECD FORD branch

—

Project

—

Continuities

S - Specificky vyzkum na vysokych skolach

Publication year

2013

Confidentiality

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Name of the periodical

The Czech Economic Review

ISSN

1802-4696

e-ISSN

—

Volume of the periodical

7

Issue of the periodical within the volume

1

Country of publishing house

CZ - CZECH REPUBLIC

Number of pages

21

Pages from-to

21-41

UT code for WoS article

—

EID of the result in the Scopus database

—