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Statements

Subject Item
n2:RIV%2F00216224%3A14560%2F14%3A00076451%21RIV15-MSM-14560___
rdf:type
skos:Concept n17:Vysledek
rdfs:seeAlso
http://mme2014.upol.cz/downloads/MME_2014_Proceedings.pdf
dcterms: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.
dcterms:title
Labour market rigidities: A DSGE approach Labour market rigidities: A DSGE approach
skos:prefLabel
Labour market rigidities: A DSGE approach Labour market rigidities: A DSGE approach
skos:notation
RIV/00216224:14560/14:00076451!RIV15-MSM-14560___
n4:aktivita
n9:S
n4:aktivity
S
n4:dodaniDat
n11:2015
n4:domaciTvurceVysledku
n10:5226163 n10:3573648
n4:druhVysledku
n5:D
n4:duvernostUdaju
n14:S
n4:entitaPredkladatele
n15:predkladatel
n4:idSjednocenehoVysledku
25544
n4:idVysledku
RIV/00216224:14560/14:00076451
n4:jazykVysledku
n21:eng
n4:klicovaSlova
DSGE model; labour market; frictions; search and matching; small open economy
n4:klicoveSlovo
n7:DSGE%20model n7:search%20and%20matching n7:labour%20market n7:frictions n7:small%20open%20economy
n4:kontrolniKodProRIV
[9F259DCAA2A7]
n4:mistoKonaniAkce
Olomouc
n4:mistoVydani
Olomouc
n4:nazevZdroje
32nd International Conference Mathematical Methods in Economics Conference Proceedings
n4:obor
n20:AH
n4:pocetDomacichTvurcuVysledku
2
n4:pocetTvurcuVysledku
2
n4:rokUplatneniVysledku
n11:2014
n4:tvurceVysledku
Němec, Daniel Pápai, Adam
n4:typAkce
n6:EUR
n4:zahajeniAkce
2014-01-01+01:00
s:numberOfPages
6
n8:hasPublisher
Univerzita Palackého v Olomouci
n12:isbn
9788024442099
n18:organizacniJednotka
14560