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Study Of Labour Dynamics Using The Semi-Markovian Processes

Author

Listed:
  • Nicolae, Mariana

    (Institute for Economic Forecasting, Romanian Academy, Bucharest)

Abstract

The current paper attempts to describe the labor market parameter dynamics using a different method, namely the semi-Markovian processes. This method allows for the labor market study without the large fluctuations that occurred at a certain moment in time impinging upon the results of the future estimations. This method, like other statistic and econometric methods provide the economic agent with information for adopting long run decisions, through which possible development trajectories are drawn for economic, budgetary and financial strategies.

Suggested Citation

  • Nicolae, Mariana, 2002. "Study Of Labour Dynamics Using The Semi-Markovian Processes," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(4), pages 116-124, December.
  • Handle: RePEc:rjr:romjef:v::y:2002:i:4:p:116-124
    as

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    References listed on IDEAS

    as
    1. Eroglu, Cuneyt & Croxton, Keely L., 2010. "Biases in judgmental adjustments of statistical forecasts: The role of individual differences," International Journal of Forecasting, Elsevier, vol. 26(1), pages 116-133, January.
    2. Philip Hans Franses & Michael McAleer & Rianne Legerstee, 2009. "Expert opinion versus expertise in forecasting," Statistica Neerlandica, Netherlands Society for Statistics and Operations Research, pages 334-346.
    3. Philip Hans Franses & Rianne Legerstee, 2010. "Do experts' adjustments on model-based SKU-level forecasts improve forecast quality?," Journal of Forecasting, John Wiley & Sons, Ltd., vol. 29(3), pages 331-340.
    4. Chang, Chia-Lin & Franses, Philip Hans & McAleer, Michael, 2011. "How accurate are government forecasts of economic fundamentals? The case of Taiwan," International Journal of Forecasting, Elsevier, vol. 27(4), pages 1066-1075, October.
    5. Fildes, Robert & Goodwin, Paul & Lawrence, Michael & Nikolopoulos, Konstantinos, 2009. "Effective forecasting and judgmental adjustments: an empirical evaluation and strategies for improvement in supply-chain planning," International Journal of Forecasting, Elsevier, vol. 25(1), pages 3-23.
    6. Franses, Philip Hans & Kranendonk, Henk C. & Lanser, Debby, 2011. "One model and various experts: Evaluating Dutch macroeconomic forecasts," International Journal of Forecasting, Elsevier, pages 482-495.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    labour force dynamics; semi-Markow processes;

    JEL classification:

    • J60 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - General
    • C19 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Other

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