NĚMEC, Daniel. Labour market frictions in a small open economy model of the Czech Republic. In Ramík, J. and Stavárek, D. Proceedings of the 30th International Conference Mathematical Methods in Economics 2012. Karviná: Silesian University in Opava, School of Business Administration in Karviná, 2012, p. 634-639. ISBN 978-80-7248-779-0.
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Basic information
Original name Labour market frictions in a small open economy model of the Czech Republic
Authors NĚMEC, Daniel (203 Czech Republic, guarantor, belonging to the institution).
Edition Karviná, Proceedings of the 30th International Conference Mathematical Methods in Economics 2012, p. 634-639, 6 pp. 2012.
Publisher Silesian University in Opava, School of Business Administration in Karviná
Other information
Original language English
Type of outcome Proceedings paper
Field of Study 50200 5.2 Economics and Business
Country of publisher Czech Republic
Confidentiality degree is not subject to a state or trade secret
Publication form printed version "print"
WWW Conference proceedings
RIV identification code RIV/00216224:14560/12:00060920
Organization unit Faculty of Economics and Administration
ISBN 978-80-7248-779-0
UT WoS 000316715900109
Keywords in English search and matching model; Bayesian estimation; DSGE model; small open economy
Tags International impact, Reviewed
Changed by Changed by: doc. Ing. Daniel Němec, Ph.D., učo 22939. Changed: 15/5/2013 13:55.
Abstract
This contribution examines the impacts of introducing search and matching frictions in an open economy DSGE framework of the Czech economy. Model estimates should help to understand the driving forces behind important labour market variables: the wage bargaining power of unions, the match elasticity of unemployed, the efficiency of the matching process, separation rate and the flexibility of wages. Search and matching aspect provides satisfactory description of employment flows in the Czech economy. Moreover, the model of the open economy fits the business cycle features of the main economic variables better than the closed model.
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