The relationship of the main labour market indicators in the Czech republic

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F26867184%3A_____%2F19%3AN0000014" target="_blank" >RIV/26867184:_____/19:N0000014 - isvavai.cz</a>

Result on the web

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DOI - Digital Object Identifier

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Result language

angličtina

Original language name

The relationship of the main labour market indicators in the Czech republic

Original language description

This paper is focused on the development and relationship of the main characteristics of labour market in the Czech Republic. The aim of this paper is to analyse the relationship between the main labour market indicators. Firstly, we analyse the long-term relationship between the unemployment rate, job vacancies and the number of unemployed people. Subsequently, the short-term relationship analysis is conducted. This is done for the period starting in January 1995 and ending in October 2018. The methodology is based on the Johansen and the Engle-Granger cointegration models to test the long-run relationship between analysed variables and the Granger causality test to identify short-term relationships. The test outcomes didn´t confirm any long-run relationships; however, the results for the short-term relationship between 1995 and 2018 show that there is a causal relationship between the unemployment rate and the number of unemployed people, where the uni-directional relationship indicates that the number of unemployed people causes the unemployment rate. Also, a bi-directional relationship between the number of unemployed people and job vacancies were found in the short-run. Furthermore, the outcomes indicate a uni-directional causal relationship between job vacancies and the unemployment rate, where the causal relationship goes from the available job vacancies to the unemployment rate, but not the other way around. The findings are important for labour and policy-making purposes.

Czech name

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Czech description

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Type

D - Article in proceedings

CEP classification

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OECD FORD branch

50202 - Applied Economics, Econometrics

Project

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Continuities

N - Vyzkumna aktivita podporovana z neverejnych zdroju

Publication year

2019

Confidentiality

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

Article name in the collection

Proceedings of the International Scientific Conferece International Days of Science 2019

ISBN

978-80-7455-076-8

ISSN

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e-ISSN

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Number of pages

7

Pages from-to

225-231

Publisher name

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Place of publication

Olomouc

Event location

Olomouc

Event date

Jan 1, 2019

Type of event by nationality

WRD - Celosvětová akce

UT code for WoS article

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