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@article{1089774,
author = {Němec, Daniel},
article_location = {Praha},
article_number = {1},
keywords = {search and matching model; closed DSGE model; bayesian estimation; labour market flexibility},
language = {eng},
issn = {1802-4696},
journal = {The Czech Economic Review},
title = {Investigating Differences Between the Czech and Slovak Labour Market Using a Small DSGE Model with Search and Matching Frictions},
url = {http://auco.cuni.cz/mag/article/show/id/141},
volume = {7},
year = {2013}
}
TY - JOUR
ID - 1089774
AU - Němec, Daniel
PY - 2013
TI - Investigating Differences Between the Czech and Slovak Labour Market Using a Small DSGE Model with Search and Matching Frictions
JF - The Czech Economic Review
VL - 7
IS - 1
SP - 21-41
EP - 21-41
SN - 18024696
KW - search and matching model
KW - closed DSGE model
KW - bayesian estimation
KW - labour market flexibility
UR - http://auco.cuni.cz/mag/article/show/id/141
L2 - http://auco.cuni.cz/mag/article/show/id/141
N2 - 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: wage bargaining 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 other hand, firms are confronted by increasing vacancy posting costs that limit vacancies creation. Relative low separation rate provides evidence of reduced mobility of the workers.
ER -
NĚMEC, Daniel. Investigating Differences Between the Czech and Slovak Labour Market Using a Small DSGE Model with Search and Matching Frictions. \textit{The Czech Economic Review}. Praha, roč.~7, č.~1, s.~21-41. ISSN~1802-4696. 2013.
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