NĚMEC, Daniel. Investigating differences between the Czech and Slovak labour market. In Marian Reiff. Proceedings of the International Scientific Conference Quantitative Methods in Economics (Multiple Criteria Decision Making XVI). Bratislava: Vydavateľstvo EKONÓM, 2012. p. 161-165. ISBN 978-80-225-3426-0.
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Basic information
Original name Investigating differences between the Czech and Slovak labour market
Authors NĚMEC, Daniel (203 Czech Republic, guarantor, belonging to the institution).
Edition Bratislava, Proceedings of the International Scientific Conference Quantitative Methods in Economics (Multiple Criteria Decision Making XVI), p. 161-165, 5 pp. 2012.
Publisher Vydavateľstvo EKONÓM
Other information
Original language English
Type of outcome Proceedings paper
Field of Study 50200 5.2 Economics and Business
Country of publisher Slovakia
Confidentiality degree is not subject to a state or trade secret
Publication form printed version "print"
WWW URL
RIV identification code RIV/00216224:14560/12:00060109
Organization unit Faculty of Economics and Administration
ISBN 978-80-225-3426-0
UT WoS 000307520000026
Keywords in English search and matching model; DSGE model; wage bargaining; Bayesian estimation
Tags International impact, Reviewed
Changed by Changed by: doc. Ing. Daniel Němec, Ph.D., učo 22939. Changed: 17. 1. 2013 22:58.
Abstract
This contribution reveals some structural properties and differences of the Czech and Slovak labour markets. A small search and matching model incorporated into standard DSGE model is estimated using Bayesian techniques. Two sources of rigidities were implemented: wage bargaining mechanism and "search and matching" process matching workers and firms. The results show that search and matching aspect provides satisfactory description of employment flows in both economies. Model estimates provide interesting evidence that wage bargaining process is determined mainly by the power of the firms. These results support the view of flexible wage environment in both economies. On the other hand, the firms are confronted by the increasing vacancy posting costs that limit vacancies creation. Relative low separation rate provides evidence of reduced mobility of the workers.
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