Investigating Differences Between the Czech and Slovak Labour Market Using a Small DSGE Model with Search and Matching Frictions
This contribution reveals some structural properties of the Czech and Slovak labour markets. A search and matching model incorporated into a small standard DSGE model is estimated using Bayesian techniques. Two sources of rigidities are implemented: wage bargaining mechanism and “search and matching” process matching workers and firms. The results show that the search and matching aspect provides satisfactory description of employment flows in both economies, and that the institutional characteristics do not differ too much in both economies. The model estimates provide interesting evidence that wage bargaining process is determined mainly by the power of firms. These results support the view of flexible wage environment in both economies. On the other hand, firms are confronted by increasing vacancy posting costs that limit vacancies creation. Relative low separation rate provides evidence of reduced mobility of the workers.
Volume (Year): 7 (2013)
Issue (Month): 1 (March)
|Contact details of provider:|| Postal: Opletalova 26, CZ-110 00 Prague|
Phone: +420 2 222112330
Fax: +420 2 22112304
Web page: http://ies.fsv.cuni.cz/
More information through EDIRC
|Order Information:|| Web: http://auco.cuni.cz/ Email: |
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.:
- Fabio Canova & Filippo Ferroni, 2011.
"Multiple filtering devices for the estimation of cyclical DSGE models,"
Econometric Society, vol. 2(1), pages 73-98, 03.
- Fabio Canova & Filippo Ferroni, 2009. "Multiple filtering devices for the estimation of cyclical DSGE models," Economics Working Papers 1135, Department of Economics and Business, Universitat Pompeu Fabra, revised Sep 2010.
- Fabio Canova & Filippo Ferroni, 2010. "Multiple Filtering Devices for the Estimation of Cyclical DSGE Models," Working Papers 498, Barcelona Graduate School of Economics.
- Pavel Gertler & Matus Senaj, 2008.
"Downward Wage Rigidities in Slovakia,"
Working and Discussion Papers
WP 7/2008, Research Department, National Bank of Slovakia.
- Adjemian, Stéphane & Bastani, Houtan & Karamé, Fréderic & Juillard, Michel & Maih, Junior & Mihoubi, Ferhat & Perendia, George & Pfeifer, Johannes & Ratto, Marco & Villemot, Sébastien, 2011. "Dynare: Reference Manual Version 4," Dynare Working Papers 1, CEPREMAP, revised Jul 2014.
- Christoffel, Kai & Kuester, Keith & Linzert, Tobias, 2009. "The role of labor markets for euro area monetary policy," Kiel Working Papers 1513, Kiel Institute for the World Economy (IfW).
- Thomas, Carlos, 2008.
"Search and matching frictions and optimal monetary policy,"
Journal of Monetary Economics,
Elsevier, vol. 55(5), pages 936-956, July.
- Carlos Thomas, 2006. "Search and Matching Frictions and Optimal Monetary Policy," CEP Discussion Papers dp0743, Centre for Economic Performance, LSE.
- Carlos Thomas, 2006. "Search and matching frictions and optimal monetary policy," LSE Research Online Documents on Economics 19782, London School of Economics and Political Science, LSE Library.
- Janett Neugebauer & Dennis Wesselbaum, 2010.
"Staggered Wages, Sticky Prices, and Labor Market Dynamics in Matching Models,"
Kiel Working Papers
1608, Kiel Institute for the World Economy.
- Janett Neugebauer & Dennis Wesselbaum, 2014. "Staggered Wages, Sticky Prices, and Labor Market Dynamics in Matching Models," Applied Economics Quarterly (formerly: Konjunkturpolitik), Duncker & Humblot GmbH, Berlin, vol. 60(3), pages 159-177.
- Neugebauer, Janett & Wesselbaum, Dennis, 2010. "Staggered wages, sticky prices, and labor market dynamics in matching models," Kiel Working Papers 1608, Kiel Institute for the World Economy (IfW).
- Christoffel, Kai & Kuester, Keith & Linzert, Tobias, 2009.
"The role of labor markets for euro area monetary policy,"
European Economic Review,
Elsevier, vol. 53(8), pages 908-936, November.
- Christoffel, Kai & Kuester, Keith & Linzert, Tobias, 2009. "The role of labor markets for euro area monetary policy," Working Paper Series 1035, European Central Bank.
- Kai Christoffel & Keith Kuester & Tobias Linzert, 2009. "The role of labor markets for Euro area monetary policy," Working Papers 09-1, Federal Reserve Bank of Philadelphia.
- Kai Christoffel & Keith Kuester & Tobias Linzert, 2009. "The Role of Labor Markets for Euro Area Monetary Policy," Kiel Working Papers 1513, Kiel Institute for the World Economy.
- David N. DeJong & Chetan Dave, 2007. "Introduction to Structural Macroeconometrics," Introductory Chapters, in: Structural Macroeconometrics Princeton University Press.
- Krause, M.U. & Lubik, T.A., 2003.
"The (Ir)relevance of Real Wage Rigidity in the New Keynesian Model with Search Frictions,"
2003-113, Tilburg University, Center for Economic Research.
- Krause, Michael U. & Lubik, Thomas A., 2007. "The (ir)relevance of real wage rigidity in the New Keynesian model with search frictions," Journal of Monetary Economics, Elsevier, vol. 54(3), pages 706-727, April.
- Thomas Lubik & Michael Krause, 2003. "The (Ir)relevance of Real Wage Rigidity in the New Keynesian Model with Search Frictions," Economics Working Paper Archive 504, The Johns Hopkins University,Department of Economics.
- Vladislav Flek & Jiøí Veèerník, 2005. "The Labor Market in the Czech Republic: Trends, Policies, and Attitudes (in English)," Czech Journal of Economics and Finance (Finance a uver), Charles University Prague, Faculty of Social Sciences, vol. 55(1-2), pages 5-24, January.
- Alberto Behar, 2009. "Tax Wedges, Unemployment Benefits and Labour Market Outcomes in the New EU Members," Czech Economic Review, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, vol. 3(1), pages 069-092, March.
- Pavel Gertler, 2010. "The wage curve: A panel data view of labour market segments," Working and Discussion Papers WP 3/2010, Research Department, National Bank of Slovakia.
- Riggi, Marianna & Tancioni, Massimiliano, 2010. "Nominal vs real wage rigidities in New Keynesian models with hiring costs: A Bayesian evaluation," Journal of Economic Dynamics and Control, Elsevier, vol. 34(7), pages 1305-1324, July.
When requesting a correction, please mention this item's handle: RePEc:fau:aucocz:au2013_021. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Lenka Stastna)
If references are entirely missing, you can add them using this form.