Labour market rigidities: A DSGE approach

D 2014

Labour market rigidities: A DSGE approach

PÁPAI, Adam a Daniel NĚMEC

Základní údaje

Originální název

Labour market rigidities: A DSGE approach

Autoři

PÁPAI, Adam a Daniel NĚMEC

Vydání

Olomouc, 32nd International Conference Mathematical Methods in Economics Conference Proceedings, od s. 748-753, 6 s. 2014

Nakladatel

Palacký University

Další údaje

Jazyk

angličtina

Typ výsledku

Stať ve sborníku

Obor

50200 5.2 Economics and Business

Stát vydavatele

Česká republika

Utajení

není předmětem státního či obchodního tajemství

Forma vydání

paměťový nosič (CD, DVD, flash disk)

Odkazy

Conference proceedings

Označené pro přenos do RIV

Ano

Kód RIV

RIV/00216224:14560/14:00082106

Organizační jednotka

Ekonomicko-správní fakulta

ISBN

978-80-244-4209-9

UT WoS

000356417900129

Klíčová slova anglicky

DSGE model; labour market; frictions; search and matching; small open economy

Příznaky

Mezinárodní význam, Recenzováno

Změněno: 7. 10. 2015 07:53, Mgr. Daniela Marcollová

Anotace

V originále

DSGE models are frequently applied tools in modern macroeconomic modelling. They are used to describe the behavior of the economy. The goal of this paper is to capture the dynamics of the labour market in a small open economy. For our estimation we chose a specic DSGE model and applied it to the Hungarian economy. This model contains search and matching mechanisms, while the wages and the worked hours are the result of the Nash bargaining problem. The wage and price rigidities are modelled according to the approach developed by Rotemberg. This method somewhat diers from the widely used Calvo price setting. The model is able to capture the great degree of openness of the Hungarian economy and the relatively high levels of frictions. Furthermore the model conrms the weakness of the trade unions. Surprisingly, the results show quite low in uence of the labour market on the dynamics of the rest of the economy.

Návaznosti

MUNI/A/0808/2013, interní kód MU

Název: Analýza chování ekonomiky a hospodářské politiky v období recese: DSGE modely malých otevřených ekonomik s finančními frikcemi a frikcemi trhu práce (Akronym: DSGE modely otevřených ekonomik v období recese)

Investor: Masarykova univerzita, Analýza chování ekonomiky a hospodářské politiky v období recese: DSGE modely malých otevřených ekonomik s finančními frikcemi a frikcemi trhu práce, DO R. 2020_Kategorie A - Specifický výzkum - Studentské výzkumné projekty

Přiložené soubory

Papai_and_Nemec_-_Labour_market_rigidities.pdf

Citovat

PÁPAI, Adam a Daniel NĚMEC. Labour market rigidities: A DSGE approach. In Talašová, J., Stoklasa, J., Talášek, T. 32nd International Conference Mathematical Methods in Economics Conference Proceedings. Olomouc: Palacký University, 2014, s. 748-753. ISBN 978-80-244-4209-9.

@inproceedings{1197942,
   author = {Pápai, Adam and Němec, Daniel},
   address = {Olomouc},
   booktitle = {32nd International Conference Mathematical Methods in Economics Conference Proceedings},
   editor = {Talašová, J., Stoklasa, J., Talášek, T.},
   keywords = {DSGE model; labour market; frictions; search and matching; small open economy},
   howpublished = {paměťový nosič},
   language = {eng},
   location = {Olomouc},
   isbn = {978-80-244-4209-9},
   pages = {748-753},
   publisher = {Palacký University},
   title = {Labour market rigidities: A DSGE approach},
   url = {http://mme2014.upol.cz/downloads/MME_2014_Proceedings.pdf},
   year = {2014}
}

TY  - CONF
ID  - 1197942
AU  - Pápai, Adam - Němec, Daniel
PY  - 2014
TI  - Labour market rigidities: A DSGE approach
PB  - Palacký University
CY  - Olomouc
SN  - 9788024442099
KW  - DSGE model
KW  - labour market
KW  - frictions
KW  - search and matching
KW  - small open economy
UR  - http://mme2014.upol.cz/downloads/MME_2014_Proceedings.pdf
L2  - http://mme2014.upol.cz/downloads/MME_2014_Proceedings.pdf
N2  - DSGE models are frequently applied tools in modern macroeconomic modelling. They are used to describe the behavior of the economy. The goal of this paper is to capture the dynamics of the labour market in a small open economy. For our estimation we chose a specic DSGE model and applied it to the Hungarian economy. This model contains search and matching mechanisms, while the wages and the worked hours are the result of the Nash bargaining problem. The wage and price rigidities are modelled according to the approach developed by Rotemberg. This method somewhat diers from the widely used Calvo price setting. The model is able to capture the great degree of openness of the Hungarian economy and the relatively high levels of frictions. Furthermore the model conrms the weakness of the trade unions. Surprisingly, the results show quite low in uence of the labour market on the dynamics of the rest of the economy.
ER  -

PÁPAI, Adam a Daniel NĚMEC. Labour market rigidities: A DSGE approach. In Talašová, J., Stoklasa, J., Talášek, T. \textit{32nd International Conference Mathematical Methods in Economics Conference Proceedings}. Olomouc: Palacký University, 2014, s.~748-753. ISBN~978-80-244-4209-9.

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