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Labour Adjustment and Efficiency in Hungary

  • Gabor Korosi

    ()

    (Institute of Economics, Hungarian Academy of Sciences)

Transition from socialist to market economy brought drastic changes to the Hungarian labour market. Employment fell by 1.6 million, i.e., by more than 25% during the early transition period, while unemployment jumped from practically nil to over 14% within four years. The rapid economic growth of the recent years could only create relatively few jobs, even though the unemployment rate continuously declined, and is less than 6% since 2001. This paper describes labour adjustment after the transitional recession, and its relationship to corporate efficiency during the recovery period, based on a panel of medium-sized and large Hungarian firms. Labour demand is also related to firm level productive efficiency.

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File URL: http://www.econ.core.hu/doc/bwp/bwp/bwp0204.pdf
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Paper provided by Institute of Economics, Centre for Economic and Regional Studies, Hungarian Academy of Sciences in its series Budapest Working Papers on the Labour Market with number 0204.

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Length: 33 pages
Date of creation: May 2002
Date of revision:
Handle: RePEc:has:bworkp:0204
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  1. Arellano, Manuel & Bond, Stephen, 1991. "Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations," Review of Economic Studies, Wiley Blackwell, vol. 58(2), pages 277-97, April.
  2. Hamermesh, Daniel S, 1992. "A General Model of Dynamic Labor Demand," The Review of Economics and Statistics, MIT Press, vol. 74(4), pages 733-37, November.
  3. Elena Bardasi & Ana Lasaosa & John Micklewright & Gyula Nagy, 1999. "Measuring the Generosity of Unemployment Benefit Systems: Evidence from Hungary and elsewhere in Central Europe," Budapest Working Papers on the Labour Market 9908, Institute of Economics, Centre for Economic and Regional Studies, Hungarian Academy of Sciences.
  4. Gabor Kertesi & Janos Kollo, 2000. "Wage Inequality in East-Central Europe," Budapest Working Papers on the Labour Market 0007, Institute of Economics, Centre for Economic and Regional Studies, Hungarian Academy of Sciences.
  5. John Micklewright & Gyula Nagy, 1997. "The Implications of Exhausting Unemployment Insurance Entitlement in Hungary," Innocenti Occasional Papers, Economic Policy Series iopeps97/8, UNICEF Innocenti Research Centre.
  6. Laszlo Halpern & Gabor Korosi, 2000. "Efficiency and Market Share in Hungarian Corporate Sector," William Davidson Institute Working Papers Series 333, William Davidson Institute at the University of Michigan.
  7. John Micklewright & Gyula Nagy, 1999. "The Informational Value of Job Search Data and the Dynamics of Search Behaviour: Evidence from Hungary," Budapest Working Papers on the Labour Market 9901, Institute of Economics, Centre for Economic and Regional Studies, Hungarian Academy of Sciences.
  8. Faggio, Giulia & Konings, Jozef, 2001. "Job Creation, Job Destruction and Employment Growth in Transition Countries in the 90's," IZA Discussion Papers 242, Institute for the Study of Labor (IZA).
  9. Gabor Kertesi & Janos Kollo, 2002. "Labour Demand with Heterogeneous Labour Inputs after the Transition in Hungary, 1992-1999 - and the Potential Consequences of the Increase of Minimum Wage in 2001 and 2002," Budapest Working Papers on the Labour Market 0205, Institute of Economics, Centre for Economic and Regional Studies, Hungarian Academy of Sciences.
  10. Bresson, G & Kramarz, F & Sevestre, P, 1992. "Heterogeneous Labor and the Dynamics of Aggregate Labor Demand: Some Estimations Using Panel Data," Empirical Economics, Springer, vol. 17(1), pages 153-68.
  11. Irena Grosfeld & Jean-Francois Nivet, 1997. "Firms' Heterogeneity in Transition: Evidence from a Polish Data Set," William Davidson Institute Working Papers Series 47, William Davidson Institute at the University of Michigan.
  12. Micklewright, John & Nagy, Gyula, 1996. "Labour market policy and the unemployed in Hungary," European Economic Review, Elsevier, vol. 40(3-5), pages 819-828, April.
  13. Gyula Nagy & Peter Galasi, 1999. "Outflows from Insured Unemployment in Hungary, 1992-1996," Budapest Working Papers on the Labour Market 9903, Institute of Economics, Centre for Economic and Regional Studies, Hungarian Academy of Sciences.
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