The Relationship between Unemployment and Output in Post-communist Countries

Autor:	Hubert Gabrisch, Herbert S. Buscher
Rok vydání:	2006
Předmět:	Economics and Econometrics Labour economics First-difference estimator Full employment Post communist media_common.quotation_subject Unemployment Economics Unemployment rate Demographic economics Aggregate demand media_common
Zdroj:	Post-Communist Economies. 18:261-276
ISSN:	1465-3958 1463-1377
DOI:	10.1080/14631370600881804
Popis:	Unemployment is still disappointingly high in most Central and East European countries, which may be a reflection of the ongoing adjustment to institutional shocks resulting from systemic transition, or may be caused by high labour market rigidity or aggregate demand that is too weak. This article investigates the dynamics of unemployment and output in those eight post-communist countries which entered the EU in 2004. We use a model related to Okun's Law; i.e. the first differences in unemployment rates are regressed on GDP growth rates. We estimate country and panel regressions with instrument variables (TSLS) and apply some tests to the data and regression results. We assume transition of labour markets to be accomplished when a robust relationship exists between unemployment rate changes and GDP growth. Moreover, the estimated coefficients contain information about labour market rigidity and unemployment thresholds of output growth. Our results suggest that the transition of labour markets can be regar...
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::a8048f419ccbe59ae879e77df832e280 https://doi.org/10.1080/14631370600881804 Zobrazit plný text záznamu Plný text ve formátu PDF Plný text ve formátu HTML
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