Labour market rigidities: A DSGE approach

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216224%3A14560%2F14%3A00082106" target="_blank" >RIV/00216224:14560/14:00082106 - isvavai.cz</a>
Result on the web
<a href="http://mme2014.upol.cz/downloads/MME_2014_Proceedings.pdf" target="_blank" >http://mme2014.upol.cz/downloads/MME_2014_Proceedings.pdf</a>
DOI - Digital Object Identifier
—

Result language
angličtina
Original language name
Labour market rigidities: A DSGE approach
Original language description
DSGE models are frequently applied tools in modern macroeconomic modelling. They are used to describe the behavior of the economy. The goal of this paper is to capture the dynamics of the labour market in a small open economy. For our estimation we chosea specic DSGE model and applied it to the Hungarian economy. This model contains search and matching mechanisms, while the wages and the worked hours are the result of the Nash bargaining problem. The wage and price rigidities are modelled according tothe approach developed by Rotemberg. This method somewhat diers from the widely used Calvo price setting. The model is able to capture the great degree of openness of the Hungarian economy and the relatively high levels of frictions. Furthermore the model conrms the weakness of the trade unions. Surprisingly, the results show quite low in uence of the labour market on the dynamics of the rest of the economy.
Czech name
—
Czech description
—

Publication year
2014
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Article name in the collection
32nd International Conference Mathematical Methods in Economics Conference Proceedings
ISBN
9788024442099
ISSN
—
e-ISSN
—
Number of pages
6
Pages from-to
748-753
Publisher name
Palacký University
Place of publication
Olomouc
Event location
Olomouc
Event date
Jan 1, 2014
Type of event by nationality
EUR - Evropská akce
UT code for WoS article
000356417900129

Similar results(10)