Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/194194 
Year of Publication: 
2018
Citation: 
[Journal:] Review of Economic Perspectives [ISSN:] 1804-1663 [Volume:] 18 [Issue:] 3 [Publisher:] De Gruyter [Place:] Warsaw [Year:] 2018 [Pages:] 225-259
Publisher: 
De Gruyter, Warsaw
Abstract: 
This paper deals with the comparison of two versions of the DSGE model, supplemented with labour market frictions, based on different data used. One of the data sets has been pre-filtered with the HP filter (lambda set to 1) to get rid of any noise and the other with the original data series with measurement errors allowed. I compare the models with the following tools: parameters estimation, impulse response analysis, standard deviation and cross-correlations and recursive forecast. I also present the historical shock decomposition of the labour market variables to provide the explanation of the development in the Czech labour market, which is considered the most efficient labour market in Europe of the last couple of years with the lowest unemployment rate.
Subjects: 
DSGE models
labour market
search and matching
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by-nc-nd Logo
Document Type: 
Article

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