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

Kód výsledku v IS VaVaI

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Výsledek na webu

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DOI - Digital Object Identifier

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Jazyk výsledku

angličtina

Název v původním jazyce

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

Popis výsledku v původním jazyce

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.

Název v anglickém jazyce

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

Popis výsledku anglicky

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.

Druh

D - Stať ve sborníku

CEP obor

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OECD FORD obor

50202 - Applied Economics, Econometrics

Projekt

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Návaznosti

N - Vyzkumna aktivita podporovana z neverejnych zdroju

Rok uplatnění

2019

Kód důvěrnosti údajů

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

Název statě ve sborníku

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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Počet stran výsledku

7

Strana od-do

225-231

Název nakladatele

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Místo vydání

Olomouc

Místo konání akce

Olomouc

Datum konání akce

1. 1. 2019

Typ akce podle státní příslušnosti

WRD - Celosvětová akce

Kód UT WoS článku

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