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

Kód výsledku v 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>

Výsledek na webu

<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

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Jazyk výsledku

angličtina

Název v původním jazyce

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

Popis výsledku v původním jazyce

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.

Název v anglickém jazyce

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

Popis výsledku anglicky

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.

Druh

J_x - Nezařazeno - Článek v odborném periodiku (Jimp, Jsc a Jost)

CEP obor

AH - Ekonomie

OECD FORD obor

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Projekt

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Návaznosti

S - Specificky vyzkum na vysokych skolach

Rok uplatnění

2013

Kód důvěrnosti údajů

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

Název periodika

The Czech Economic Review

ISSN

1802-4696

e-ISSN

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Svazek periodika

7

Číslo periodika v rámci svazku

1

Stát vydavatele periodika

CZ - Česká republika

Počet stran výsledku

21

Strana od-do

21-41

Kód UT WoS článku

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EID výsledku v databázi Scopus

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