Impact of Wage Increase and Estimation of Phillips´ Curve in
Czech Republic

D 2022

Impact of Wage Increase and Estimation of Phillips´ Curve in Czech Republic

MARINIČ, Peter

Základní údaje

Originální název

Impact of Wage Increase and Estimation of Phillips´ Curve in Czech Republic

Autoři

MARINIČ, Peter

Vydání

Hradec Králové, Hradec Economic Days Vol. 12(1), od s. 545-552, 8 s. 2022

Nakladatel

University of Hradec Králové

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

elektronická verze "online"

Odkazy

Conference proceedings

Označené pro přenos do RIV

Organizační jednotka

Pedagogická fakulta

ISBN

978-80-7435-855-5

ISSN

DOI

https://doi.org/10.36689/uhk/hed/2022-01-052

Klíčová slova anglicky

unemployment; inflation; wages; consumption; Phillips’ curve

Příznaky

Mezinárodní význam, Recenzováno

Změněno: 13. 6. 2022 17:17, Mgr. Ing. Peter Marinič, Ph.D.

Anotace

V originále

The paper deals with the influence of wage growth on selected economic indicators in the condition of the Czech Republic. The estimate of the Phillips' curve in the conditions of the Czech Republic is constructed as a first step of the analysis, both for the original version, including the link between the change in wages and the unemployment rate, and in a modified form, examining the relationship between inflation and unemployment. The analyzed data show that the relationship between inflation and unemployment rate for the Czech Republic in the period 2005 to 2021 is not such significant (R2 = 0.245), however, there is a stronger link between wage change and unemployment rate (R2 = 0.495). Furthermore, the link between wage growth and consumption of households is examined, as it is referred to as a factor accelerating inflation rate. The data suggest that changes in consumption of households can be explained by 42.7% through wage changes. Thus, the results suggest that wage growth in the conditions of the Czech Republic was related to the low unemployment rate and is partly reflected in the growth of consumption of households, but the link to the accelerating inflation rate is missing.

Návaznosti

MUNI/A/1472/2021, interní kód MU

Název: Přírodovědné, technické a odborné vzdělávání na základních a středních školách

Investor: Masarykova univerzita, Přírodovědné, technické a odborné vzdělávání na základních a středních školách

Citovat

MARINIČ, Peter. Impact of Wage Increase and Estimation of Phillips´ Curve in Czech Republic. Online. In J. Mačí, P. Marešová, K. Firlej, I. Soukal. Hradec Economic Days Vol. 12(1). Hradec Králové: University of Hradec Králové, 2022, s. 545-552. ISBN 978-80-7435-855-5. Dostupné z: https://doi.org/10.36689/uhk/hed/2022-01-052.

@inproceedings{1860068,
   author = {Marinič, Peter},
   address = {Hradec Králové},
   booktitle = {Hradec Economic Days Vol. 12(1)},
   doi = {https://doi.org/10.36689/uhk/hed/2022-01-052},
   editor = {J. Mačí, P. Marešová, K. Firlej, I. Soukal},
   keywords = {unemployment; inflation; wages; consumption; Phillips’ curve},
   howpublished = {elektronická verze "online"},
   language = {eng},
   location = {Hradec Králové},
   isbn = {978-80-7435-855-5},
   pages = {545-552},
   publisher = {University of Hradec Králové},
   title = {Impact of Wage Increase and Estimation of Phillips´ Curve in Czech Republic},
   url = {https://uni.uhk.cz/hed/site/assets/files/1083/proceedings_2022_1.pdf},
   year = {2022}
}

TY  - CONF
ID  - 1860068
AU  - Marinič, Peter
PY  - 2022
TI  - Impact of Wage Increase and Estimation of Phillips´ Curve in Czech Republic
PB  - University of Hradec Králové
CY  - Hradec Králové
SN  - 9788074358555
KW  - unemployment
KW  - inflation
KW  - wages
KW  - consumption
KW  - Phillips’ curve
UR  - https://uni.uhk.cz/hed/site/assets/files/1083/proceedings_2022_1.pdf
N2  - The paper deals with the influence of wage growth on selected economic indicators in the condition of the Czech Republic. The estimate of the Phillips' curve in the conditions of the Czech Republic is constructed as a first step of the analysis, both for the original version, including the link between the change in wages and the unemployment rate, and in a modified form, examining the relationship between inflation and unemployment. The analyzed data show that the relationship between inflation and unemployment rate for the Czech Republic in the period 2005 to 2021 is not such significant (R2 = 0.245), however, there is a stronger link between wage change and unemployment rate (R2 = 0.495). Furthermore, the link between wage growth and consumption of households is examined, as it is referred to as a factor accelerating inflation rate. The data suggest that changes in consumption of households can be explained by 42.7% through wage changes. Thus, the results suggest that wage growth in the conditions of the Czech Republic was related to the low unemployment rate and is partly reflected in the growth of consumption of households, but the link to the accelerating inflation rate is missing.
ER  -

MARINIČ, Peter. Impact of Wage Increase and Estimation of Phillips´ Curve in Czech Republic. Online. In J. Mačí, P. Marešová, K. Firlej, I. Soukal. \textit{Hradec Economic Days Vol. 12(1)}. Hradec Králové: University of Hradec Králové, 2022, s.~545-552. ISBN~978-80-7435-855-5. Dostupné z: https://doi.org/10.36689/uhk/hed/2022-01-052.

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