Publication details
Unemployment Hysteresis in the Czech Republic
| Authors | |
|---|---|
| Year of publication | 2019 |
| Type | Article in Periodical |
| Magazine / Source | Prague Economic Papers : Quarterly Journal of Economic Theory and Policy |
| MU Faculty or unit | |
| Citation | |
| Web | https://pep.vse.cz/artkey/pep-201905-0003_unemployment-hysteresis-in-the-czech-republic.php |
| Doi | http://dx.doi.org/10.18267/j.pep.709 |
| Keywords | Hysteresis; NAIRU; Phillips curve; state space models; unemployment |
| Attached files | |
| Description | This paper analyses the unemployment hysteresis in the Czech Republic on data from 1999 to 2016. The hysteresis is modelled by allowing for the impact of the cyclical unemployment on the non-accelerating inflation rate of unemployment. Models are estimated by using the Bayesian approach and provide robust evidence in favour of the hysteresis. The estimates imply that in response to increase in the cyclical unemployment of 1 percentage point, the non-accelerating inflation rate of unemployment increases by 0.18 percentage points. |
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