Labor Market Frictions in the Czech Republic and Hungary

Kód výsledku v 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>

Výsledek na webu

<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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Jazyk výsledku

angličtina

Název v původním jazyce

Labor Market Frictions in the Czech Republic and Hungary

Popis výsledku v původním jazyce

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.

Název v anglickém jazyce

Labor Market Frictions in the Czech Republic and Hungary

Popis výsledku anglicky

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.

Druh

D - Stať ve sborníku

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

2015

Kód důvěrnosti údajů

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

Název statě ve sborníku

33rd International Conference Mathematical Methods in Economics Conference Proceedings

ISBN

9788026105398

ISSN

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e-ISSN

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Počet stran výsledku

6

Strana od-do

606-611

Název nakladatele

University of West Bohemia

Místo vydání

Plzeň

Místo konání akce

Cheb

Datum konání akce

1. 1. 2015

Typ akce podle státní příslušnosti

EUR - Evropská akce

Kód UT WoS článku

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