Publication details

Labour Market Modelling within a DSGE Approach


TONNER Jaromír TVRZ Stanislav VAŠÍČEK Osvald

Year of publication 2016
MU Faculty or unit

Faculty of Economics and Administration

Description Incorporating labour market imperfections into DSGE models is currently one of most discussed issues in the field of macroeconomic modelling. Labour market variables are important indicators of economic activity and have the potential to improve the overall performance of the model. The article compares and evaluates various ways of incorporating the labour market into the standard New Keynesian DSGE framework of the CNB’s core prediction model.

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