Wage rigidities and labour market performance in the Czech
Republic

D 2016

Wage rigidities and labour market performance in the Czech Republic

NĚMEC, Daniel a Martin MACÍČEK

Základní údaje

Originální název

Wage rigidities and labour market performance in the Czech Republic

Autoři

NĚMEC, Daniel (203 Česká republika, garant, domácí) a Martin MACÍČEK (203 Česká republika, domácí)

Vydání

Liberec, 34th International Conference Mathematical Methods in Economics MME 2016 - Conference proceedings, od s. 612-617, 6 s. 2016

Nakladatel

Technical University of Liberec

Další údaje

Jazyk

angličtina

Typ výsledku

Stať ve sborníku

Obor

50202 Applied Economics, Econometrics

Stát vydavatele

Česká republika

Utajení

není předmětem státního či obchodního tajemství

Forma vydání

paměťový nosič (CD, DVD, flash disk)

Odkazy

Conference proceedings

Kód RIV

RIV/00216224:14560/16:00090784

Organizační jednotka

Ekonomicko-správní fakulta

ISBN

978-80-7494-296-9

UT WoS

000385239500105

Klíčová slova anglicky

wage rigidities; labour market frictions; DSGE model; hiring costs; Czech labour market

Příznaky

Mezinárodní význam, Recenzováno

Změněno: 17. 4. 2019 14:41, Mgr. Daniela Marcollová

Anotace

V originále

The main goal of our contribution is to evaluate the impact of structural characteristics of the Czech labour market on the business cycle and to quantify the role of wage rigidities in the labour market performance. The Czech economy is represented by a small dynamic stochastic general equilibrium model of an open economy. The model economy consists of three types of agents: firms, households and central bank. Model parameters are estimated using the quarterly data of the Czech Republic for the period from the first quarter of 2000 to the last quarter of 2014. The comparison of two alternative wage setting model schemes shows that the Nash bargaining wage setting with the real wage persistence fits the data better than the Calvo type of wage rigidities modelling approach. The existence of hiring costs in the Czech economy was proved as significant and the estimated hiring costs account for 0.77% of the gross domestic product.

Návaznosti

MUNI/A/1040/2015, interní kód MU

Název: Dynamické makroekonomické modely malých otevřených ekonomik – aktuální problémy a výzvy (Akronym: Dynamické makroekonomické modely)

Investor: Masarykova univerzita, Dynamické makroekonomické modely malých otevřených ekonomik – aktuální problémy a výzvy, DO R. 2020_Kategorie A - Specifický výzkum - Studentské výzkumné projekty

Přiložené soubory

mme2016.pdf

Vyhledat podobné dokumenty

Citovat

NĚMEC, Daniel a Martin MACÍČEK. Wage rigidities and labour market performance in the Czech Republic. In Aleš Kocourek, Miroslav Vavroušek. 34th International Conference Mathematical Methods in Economics MME 2016 - Conference proceedings. Liberec: Technical University of Liberec, 2016, s. 612-617. ISBN 978-80-7494-296-9.

@inproceedings{1353889,
   author = {Němec, Daniel and Macíček, Martin},
   address = {Liberec},
   booktitle = {34th International Conference Mathematical Methods in Economics MME 2016 - Conference proceedings},
   editor = {Aleš Kocourek, Miroslav Vavroušek},
   keywords = {wage rigidities; labour market frictions; DSGE model; hiring costs; Czech labour market},
   howpublished = {paměťový nosič},
   language = {eng},
   location = {Liberec},
   isbn = {978-80-7494-296-9},
   pages = {612-617},
   publisher = {Technical University of Liberec},
   title = {Wage rigidities and labour market performance in the Czech Republic},
   url = {http://mme2016.tul.cz/conferenceproceedings/mme2016_conference_proceedings.pdf},
   year = {2016}
}

TY  - JOUR
ID  - 1353889
AU  - Němec, Daniel - Macíček, Martin
PY  - 2016
TI  - Wage rigidities and labour market performance in the Czech Republic
PB  - Technical University of Liberec
CY  - Liberec
SN  - 9788074942969
KW  - wage rigidities
KW  - labour market frictions
KW  - DSGE model
KW  - hiring costs
KW  - Czech labour market
UR  - http://mme2016.tul.cz/conferenceproceedings/mme2016_conference_proceedings.pdf
L2  - http://mme2016.tul.cz/conferenceproceedings/mme2016_conference_proceedings.pdf
N2  - The main goal of our contribution is to evaluate the impact of structural characteristics of the Czech labour market on the business cycle and to quantify the role of wage rigidities in the labour market performance. The Czech economy is represented by a small dynamic stochastic general equilibrium model of an open economy. The model economy consists of three types of agents: firms, households and central bank. Model parameters are estimated using the quarterly data of the Czech Republic for the period from the first quarter of 2000 to the last quarter of 2014. The comparison of two alternative wage setting model schemes shows that the Nash bargaining wage setting with the real wage persistence fits the data better than the Calvo type of wage rigidities modelling approach. The existence of hiring costs in the Czech economy was proved as significant and the estimated hiring costs account for 0.77% of the gross domestic product.
ER  -

NĚMEC, Daniel a Martin MACÍČEK. Wage rigidities and labour market performance in the Czech Republic. In Aleš Kocourek, Miroslav Vavroušek. \textit{34th International Conference Mathematical Methods in Economics MME 2016 - Conference proceedings}. Liberec: Technical University of Liberec, 2016, s.~612-617. ISBN~978-80-7494-296-9.

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