Discussion to the paper by Jan Brůha



Year of publication 2011
Type Article in Periodical
Magazine / Source Finance a úvěr - Czech Journal of Economics and Finance
MU Faculty or unit

Faculty of Economics and Administration

Field Economy
Keywords structural time series; labor market; forecasting
Description This article is a discussion to the paper "An Empirical Small Labor Market Model for the Czech Economy" by Jan Brůha. This discussion summarizes the main contributions and pitfalls of Brůha's paper. It provides an alternative view of the issue and puts it in a wider context. The main objective of this discussion is to propose a specification of trend in unemployment, which allows for hysteresis in unemployment. Such specification would improve the empirical properties of the model.
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