Other formats:
BibTeX
LaTeX
RIS
@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 and 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, p.~612-617. ISBN~978-80-7494-296-9.
|