Project information

Labour Market Modelling within a DSGE Approach

Project Identification
1025/2014
Project Period
1/2013 - 12/2014
Investor / Pogramme / Project type
Nadation/Found - National
MU Faculty or unit
Faculty of Economics and Administration
Cooperating Organization
Czech National Bank

The goal of the research project is to contribute to the understanding of the dynamics of main labour-market variables for macroeconomic modelling and forecasting. We will compare and evaluate various ways of incorporating labour market dynamics into the New Keynesian DSGE framework from the perspective of replicating important data features (stylized facts and moment matching), model properties (impulse responses, proper interpretation of shock decomposition, and in-sample simulations), data requirement etc. Then, based on practical operability, we will propose a suitable approach for implementing the labour market into a DSGE model applied to the Czech economy.

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