engleski

Labour market modelling of selected transition countries by matching function

By the overall empirical disaggregated analysis in the labour market of the selected group of countries, the following guidelines for economic policy makers have been defined. First and foremost it is important to carry out a disaggregated labour market analysis in every country using a translog model of the matching function, as it was proven to be reliable. In this way, the real reasons of supply and demand maladjustment in the labour market shall be identified, and it shall be possible to apply appropriate measures for decreasing the existing mismatch. A mismatch process can become more efficient and a labour market more flexible if an improved mediation in searching for employment, improved system of education, training and lifelong education, reforms of taxation system and unemployment benefits, more flexible working hours, and measures for improving labour mobility are applied. The aforementioned is partly achievable by using active policies in the labour market. Namely, their main aim is not to create new vacancies, but rather to redistribute employment chances, in other words to achieve better matching between the existing available vacancies and existing employment seekers. Precisely this application of active policies in the disaggregated labour market in which there is an adequate mismatch opens the way to new areas of research. The main limitations of this research have been stressed for several times in this doctoral thesis. Above all, they arise from poor availability of certain data in the selected group of countries, but there are also some limitations that come out of heterogeneous definition of a mismatch hypothesis, as well as different theoretical ways of measuring mismatch indicators. Due to the above mentioned, the gained results for individual mismatch indicators should be taken with precaution, however it is important to stress that they do show a corresponding trend. In a greater number of countries their values grow and this indicates an increase in the regional maladjustment. Using disaggregated analysis by matching function, certain segments in the labour market of the selected group of countries in which there is maladjustment have been found. Given the fact that this analysis is above all of econometric nature, the obtained results should always be interpreted by taking starting limitations into consideration. Therefore, it can finally be concluded that regardless of the corresponding limitations and shortcomings of it, this research surely represents a good starting point and serves as a guideline for future theoretical and empirical researches in the area of labour market modelling by matching function.

labour market; matching function; transition economies

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