About: Labour market rigidities: A DSGE approach

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rdf:type	skos:Concept http://linked.opendata.cz/ontology/domain/vavai/Vysledek
rdfs:seeAlso	http://mme2014.upol.cz/downloads/MME_2014_Proceedings.pdf
Description	DSGE models are frequently applied tools in modern macroeconomic modelling. They are used to describe the behavior of the economy. The goal of this paper is to capture the dynamics of the labour market in a small open economy. For our estimation we chose a specic DSGE model and applied it to the Hungarian economy. This model contains search and matching mechanisms, while the wages and the worked hours are the result of the Nash bargaining problem. The wage and price rigidities are modelled according to the approach developed by Rotemberg. This method somewhat diers from the widely used Calvo price setting. The model is able to capture the great degree of openness of the Hungarian economy and the relatively high levels of frictions. Furthermore the model conrms the weakness of the trade unions. Surprisingly, the results show quite low in uence of the labour market on the dynamics of the rest of the economy. DSGE models are frequently applied tools in modern macroeconomic modelling. They are used to describe the behavior of the economy. The goal of this paper is to capture the dynamics of the labour market in a small open economy. For our estimation we chose a specic DSGE model and applied it to the Hungarian economy. This model contains search and matching mechanisms, while the wages and the worked hours are the result of the Nash bargaining problem. The wage and price rigidities are modelled according to the approach developed by Rotemberg. This method somewhat diers from the widely used Calvo price setting. The model is able to capture the great degree of openness of the Hungarian economy and the relatively high levels of frictions. Furthermore the model conrms the weakness of the trade unions. Surprisingly, the results show quite low in uence of the labour market on the dynamics of the rest of the economy. (en)
Title	Labour market rigidities: A DSGE approach Labour market rigidities: A DSGE approach (en)
skos:prefLabel	Labour market rigidities: A DSGE approach Labour market rigidities: A DSGE approach (en)
skos:notation	RIV/00216224:14560/14:00076451!RIV15-MSM-14560___
http://linked.open...avai/riv/aktivita	S
http://linked.open...avai/riv/aktivity	S
http://linked.open...vai/riv/dodaniDat	2015
http://linked.open...aciTvurceVysledku	Pápai, Adam Němec, Daniel
http://linked.open.../riv/druhVysledku	D - Článek ve sborníku
http://linked.open...iv/duvernostUdaju	S - Úplné a pravdivé údaje nepodléhající ochraně podle zvláštních právních předpisů
http://linked.open...titaPredkladatele	Masarykova univerzita / Ekonomicko-správní fakulta
http://linked.open...dnocenehoVysledku	25544
http://linked.open...ai/riv/idVysledku	RIV/00216224:14560/14:00076451
http://linked.open...riv/jazykVysledku	eng - angličtina
http://linked.open.../riv/klicovaSlova	DSGE model; labour market; frictions; search and matching; small open economy (en)
http://linked.open.../riv/klicoveSlovo	labour market small open economy DSGE model frictions search and matching
http://linked.open...ontrolniKodProRIV	[9F259DCAA2A7]
http://linked.open...v/mistoKonaniAkce	Olomouc
http://linked.open...i/riv/mistoVydani	Olomouc
http://linked.open...i/riv/nazevZdroje	32nd International Conference Mathematical Methods in Economics Conference Proceedings
http://linked.open...in/vavai/riv/obor	AH
http://linked.open...ichTvurcuVysledku	2 (xsd:int)
http://linked.open...cetTvurcuVysledku	2 (xsd:int)
http://linked.open...UplatneniVysledku	2014
http://linked.open...iv/tvurceVysledku	Němec, Daniel Pápai, Adam
http://linked.open...vavai/riv/typAkce	EUR - Evropská
http://linked.open.../riv/zahajeniAkce	2014-01-01 (xsd:date)
number of pages	6 (xsd:int)
http://purl.org/ne...btex#hasPublisher	Univerzita Palackého v Olomouci
https://schema.org/isbn	9788024442099
http://localhost/t...ganizacniJednotka	14560

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