Labour Market Frictions in the Visegrad Group
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216224%3A14560%2F16%3A00095932" target="_blank" >RIV/00216224:14560/16:00095932 - 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 the Visegrad Group
Original language description
In this paper we examine the dynamical and structural properties of the economies of the Visegrad Group. Our focus lies mainly in the investigation and comparison of the labour market frictions present in these countries. We estimate a dynamic stochastic general equilibrium model for small open economies on four data sets between periods 2002Q1 and 2015Q4. The selected model contains several labour market and other types of rigidities, like wage and price adjustment costs. The explicitly defined labour market consists of a search and matching function and a Nash-type wage and working hours bargaining process. A switching mechanism is implemented for the Slovak Republic to differentiate between autonomous and joint monetary policies for periods before and after 2009. The model matches the behaviour of real macroeconomic variables relatively well. Our results suggest that the wage rigidities are weaker compared to the price frictions in all examined economies. Also, in most cases the monetary authority is capable of influencing the labour market variables. Finally, all countries except Poland show signs of high degree of openness.
Czech name
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Czech description
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Classification
Type
D - Article in proceedings
CEP classification
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OECD FORD branch
50200 - Economics and Business
Result continuities
Project
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Continuities
S - Specificky vyzkum na vysokych skolach
Others
Publication year
2016
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Article name in the collection
3nd International Multidisciplinary Scientific Conference on Social Sciences & Arts SGEM 2016
ISBN
9786197105766
ISSN
2367-5659
e-ISSN
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Number of pages
8
Pages from-to
417-424
Publisher name
SGEM international multidisciplinary scientific conference on social sciences and arts
Place of publication
Sofia, Bulgaria
Event location
Albena, Bulgaria
Event date
Jan 1, 2016
Type of event by nationality
WRD - Celosvětová akce
UT code for WoS article
000395727200054