Econometric analysis of Labour Market in Bulgaria - 1991-2006
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.
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Volume (Year): (2007)
Issue (Month): 3 ()
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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Peter Summers, 2000. "Labour Market Analysis with VAR Models," Melbourne Institute Working Paper Series wp2000n19, Melbourne Institute of Applied Economic and Social Research, The University of Melbourne.
- White, Halbert, 1980. "A Heteroskedasticity-Consistent Covariance Matrix Estimator and a Direct Test for Heteroskedasticity," Econometrica, Econometric Society, vol. 48(4), pages 817-838, May.
- Dolado, Juan J. & Jimeno, Juan F., 1997.
"The causes of Spanish unemployment: A structural VAR approach,"
European Economic Review,
Elsevier, vol. 41(7), pages 1281-1307, July.
- Juan J. Dolado & Juan F. Jimeno, "undated". "The causes of Spanish unemployment: A structural VAR apporach," Working Papers 96-19, FEDEA.
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