In this paper we compare the nature and determinants of outflows from unemployment in the case of the Czech and Slovak Republics which in early 199 0' s experienced a process close to a controlled experiment. Overall, our study suggests that the exceptionally low unemployment rate in the Czech Republic as compared to Slovakia and the other Central and East European economies has been brought about principally by (1) a rapid increase in vacancies along with unemployment, resulting in a balanced unemployment-vacancy situation at the aggregate as well as district level, (2) a major part played by vacancies and the newly unemployed in the outflow from unemployment, (3) a matching process with strongly increasing returns to scale throughout (rather than only in parts of) the transition period, and (4) ability to keep the long term unemployed at relatively low levels.
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Paper provided by Commission of the EEC - Ecofin, Country Studies in its series Papers with number
141.
Length: 38 pages Date of creation: 1999 Date of revision: Handle: RePEc:fth:eeccou:141
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Find related papers by JEL classification: E24 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution J64 - Labor and Demographic Economics - - Mobility, Unemployment, and Vacancies - - - Unemployment: Models, Duration, Incidence, and Job Search P20 - Economic Systems - - Socialist Systems and Transition Economies - - - General J40 - Labor and Demographic Economics - - Particular Labor Markets - - - General C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data
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