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Labour Market Analysis using Time Series Models: Russia 1999-2011

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  • Elena Vakulenko

Abstract

We investigate the relationship between the main indicators of the labour market in Russia. We try to construct a model of the Russian labour market and identify key relationships. Our special attention is drawn to the impact of the crisis on the Russian labour market and influence of oil price on labor market indicators. We estimated two types of models. They are systems of simultaneous equations model (SEM) and VECM. We received that real wage in Russia are more flexible than employment. During the crisis period real wage was decreasing. SEM model shows that real wage positively depends on real oil price. While the number of employed and unemployment don’t depend on real oil price.

Suggested Citation

  • Elena Vakulenko, 2013. "Labour Market Analysis using Time Series Models: Russia 1999-2011," Quaderni del Dipartimento di Economia, Finanza e Statistica 120/2013, Università di Perugia, Dipartimento Economia.
  • Handle: RePEc:pia:wpaper:120/2013
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    References listed on IDEAS

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    More about this item

    Keywords

    labour market; time series models; Russia;

    JEL classification:

    • J20 - Labor and Demographic Economics - - Demand and Supply of Labor - - - General
    • J40 - Labor and Demographic Economics - - Particular Labor Markets - - - General

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