Labor Market Frictions in the Czech Republic and Hungary
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216224%3A14560%2F15%3A00083811" target="_blank" >RIV/00216224:14560/15:00083811 - isvavai.cz</a>
Result on the web
<a href="http://mme2015.zcu.cz/downloads/MME_2015_proceedings.pdf" target="_blank" >http://mme2015.zcu.cz/downloads/MME_2015_proceedings.pdf</a>
DOI - Digital Object Identifier
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Alternative languages
Result language
angličtina
Original language name
Labor Market Frictions in the Czech Republic and Hungary
Original language description
The goal of this paper is to investigate and compare the structural and dynamical characteristics of the Czech and Hungarian economy. The focus lies mainly on the examination of the development of key labor market variables. We also want to capture the changes that occurred due to the Great Recession in 2008. We estimate a DSGE model with search and matching frictions, price and wage rigidities and hiring costs. The monetary authority sets the nominal interest rates according to a Taylor-type rule. Thewages setting mechanism and hours worked are the result of the Nash bargaining process. This model is estimated for the quarterly data of the Czech Republic and Hungary for the period 2001Q2 ? 2014Q4. The results show that the reactions of variables to monetary shock are larger in the Czech Republic. This suggests that the monetary policy is less efficient in Hungary during the examined period. The bargaining power of workers is stronger in the Czech economy.
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
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Continuities
S - Specificky vyzkum na vysokych skolach
Others
Publication year
2015
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Article name in the collection
33rd International Conference Mathematical Methods in Economics Conference Proceedings
ISBN
9788026105398
ISSN
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e-ISSN
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Number of pages
6
Pages from-to
606-611
Publisher name
University of West Bohemia
Place of publication
Plzeň
Event location
Cheb
Event date
Jan 1, 2015
Type of event by nationality
EUR - Evropská akce
UT code for WoS article
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