Publication details

Hystereze nezaměstnanosti v ČR - obecný makroekonomický pohled

Title in English Hysteresis in Unemployment - General Macroeconomic View
Authors

NĚMEC Daniel

Year of publication 2004
Type Article in Proceedings
Conference MendelNET 2004 - Sborník příspěvků z konference studentů doktorského studia
MU Faculty or unit

Faculty of Economics and Administration

Citation
Keywords hysteresis; unemployment; natural rate of unemployment; NAIRU
Description This contribution attempts to identify empirically hysteresis of unemployment in the Czech Republic. We understand the notion of hysteresis from Robert J. Gordons general macroeconomics point of view of New Keynesian Macroeconomics, i.e. the natural rate of unemployment (often called NAIRU) follows in the path of the actual unemployment rate. Hysteresis is confirmed in a simple model for macroeconomic data for the Czech Republic. The existence of hysteresis has important implications for economic policy and its tools.

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