Politická ekonomie 2020, 68(6):607-629 | DOI: 10.18267/j.polek.1297

Nezaměstnanost a volná pracovní místa

Andrea Čížků

Unemployment and Job Creation

Unemployment and Job Creation The aim of the paper is to formulate, estimate econometrically and analyse an empirically oriented labour market model in which a job creation process is described as determined by aggregate output demand. The model is estimated econometrically for Spain and the United Kingdom before and after the current economic crisis. Spain represents less developed countries in southern Europe while the United Kingdom is used as a representative of advanced European economies. The goal of the subsequent model analysis is (1) to investigate the strength of the aggregate demand transmission mechanism in these two different European countries, and (2) to analyse a connection between multiplicity of equilibrium unemployment rate and the strength of the aggregate demand transmission mechanism.

Keywords: unemployment, Cobb-Douglas matching function, aggregate output demand, vacancies
JEL classification: J23, J64

Received: April 15, 2018; Revised: August 1, 2020; Accepted: October 15, 2020; Published: December 21, 2020  Show citation

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Čížků, A. (2020). Unemployment and Job Creation. Politická ekonomie, 68(6), 607-629. doi: 10.18267/j.polek.1297
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