Econometric analysis of Labour Market in Bulgaria - 1991-2006
Abstract
The paper elaborates on the problems for construction and estimation of econometric techniques for analysis of labour market in Bulgaria. It is used the econometrics vector autoregressive modeling (VAR). In the model are included and investigated the main indicators that characterize labour market functioning (unemployment, employment, wages, labour productivity and inflation). On the basis of the obtained estimates for the parameters of the model and the impulse response analysis are analyzed the links and relationships among the main variables and their sensitiveness to macroeconomics shocks. The results from the VAR model and impulse response analysis show insignificant relationship between employment, unemployment and wages, which indicates that Bulgarian labour market is less flexible. Bulgarian labour market is sensitive to the labour demand shocks, inflation and technology shocks. Unemployment and employment are most sensitive regarding the effects of the shocks because their levels are changed under the impact of almost all investigated factors.Download Info
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Bibliographic Info
Article provided by Bulgarian Academy of Sciences - Economic Research Institute in its journal Economic Studies.
Volume (Year): (2007)
Issue (Month): 3 ()
Pages: 144-172
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Related research
Keywords:Find related papers by JEL classification:
- C52 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Evaluation, Validation, and Selection
- C53 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Forecasting and Prediction Models; Simulation Methods
- J30 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - General
- J60 - Labor and Demographic Economics - - Mobility, Unemployment, and Vacancies - - - General
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