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@inproceedings{701747,
author = {Němec, Daniel and Moravanský, Dalibor},
address = {Plzeň},
booktitle = {Proceedings of the 24th International Conference Mathematical Methods in Economics 2006.},
keywords = {hysteresis; unemployment; Phillips curve; wage bargaining model},
language = {eng},
location = {Plzeň},
isbn = {978-80-7043-480-2},
pages = {407-414},
publisher = {University of West Bohemia in Pilsen},
title = {Testing of Hysteresis in Unemployment},
year = {2006}
}
TY - JOUR
ID - 701747
AU - Němec, Daniel - Moravanský, Dalibor
PY - 2006
TI - Testing of Hysteresis in Unemployment
PB - University of West Bohemia in Pilsen
CY - Plzeň
SN - 9788070434802
KW - hysteresis
KW - unemployment
KW - Phillips curve
KW - wage bargaining model
N2 - Traditional approaches for testing and describing of hysteresis hypothesis are based on unit root tests and on various specifications of the Phillips curve. From this point of view, suggestions about roots of hysteresis phenomenon are related mainly to the process of a wage setting within the frame of the Insider-Outsider model. In this contribution, a little more general wage bargaining model is presented. From the theoretical point of view, we are able to decide whether hysteresis effect is the rule rather than the exception. Using macroeconomic data of the Czech Republic, parameters of this model are estimated and compared with empirical results within the framework of traditional approaches. Conclusions about the patterns of Czech unemployment are made.
ER -
NĚMEC, Daniel a Dalibor MORAVANSKÝ. Testing of Hysteresis in Unemployment. In \textit{Proceedings of the 24th International Conference Mathematical Methods in Economics 2006.}. Plzeň: University of West Bohemia in Pilsen, 2006, s.~407-414, 7 s. ISBN~978-80-7043-480-2.
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