Randomness or stock-flow: Which mechanism describes labour market matching in Poland?

• Autorzy: Ewa Gałecka-Burdziak
• Języki publikacji: EN

Abstrakty

EN

I compare random, stock-flow and job queuing models to determine which mechanism prevails in the Polish labour market. I use monthly registered unemployment data for the period 1999 - 2013 and econometrically correct for temporal aggregation bias in the data. I extend the known solutions to make them directly applicable to a job queuing model. I find that stocks and inflows engage in a matching process. Job seekers (from the pool) seek work among old and new job posts, but only a small fraction of the newly unemployed individuals find work instantaneously. Vacancies are the driving force in aggregate hiring, but the inflow is more important than the stock. The random model has greater explanatory power, although the results do not negate the non-random model. The random model entails the need to improve information to facilitate matching. The stock-flow model implies that policy should aim at creating more job offers. (original abstract)

Słowa kluczowe

EN

Analysis of random processes; Labour market; Aggregation models; Aggregation bias

PL

Analiza procesów losowych; Rynek pracy; Agregacja modeli; Obciążenie agregacyjne

• Czasopismo: Collegium of Economic Analysis SGH - Working Papers
• Rocznik: 2016
• Numer: nr 5
• Strony: 32

Twórcy

autor

Ewa Gałecka-Burdziak

• Warsaw School of Economics, Poland

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