Macroeconomic determinants of unemployment in Croatia: Subset VEC model (CROSBI ID 649476)
Prilog sa skupa u zborniku | izvorni znanstveni rad | međunarodna recenzija
Podaci o odgovornosti
Benazić, Manuel ; Učkar, Dean
engleski
Macroeconomic determinants of unemployment in Croatia: Subset VEC model
Maintaining low unemployment rate is one of the most important objectives of economic policy. Economic policy affects unemployment mainly through monetary and fiscal policy, trying to affect aggregate supply and demand for goods and services. In Croatia, unemployment rate is significantly higher in relation to other countries of the European Union (EU) and represents a big problem for economic policy creators. Many studies show that unemployment depends on several factors. Therefore, the aim of this study is to determine the impact of productivity, prices and real wages on unemployment in Croatia. For this purpose, the subset vector error correction (VEC) model is applied. The results indicate the existence of two stable cointegration relationships between the variables whereby an increase in productivity, prices and wages lead to a decrease in unemployment.
Cointegration, Croatia, Subset VEC model, Unemployment
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Podaci o prilogu
314-325.
2017.
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objavljeno
Podaci o matičnoj publikaciji
Economic and Social Development
Li Yongqiang, Anica Hunjet, Ante Roncevic
Prag: VADEA ; City of Prague ; Sveučilište Sjever ; Faculty of Management University of Warsaw
1849-7535
Podaci o skupu
20th International Scientific Conference on Economic and Social Development
predavanje
27.04.2017-28.04.2017
Prag, Češka Republika
Povezanost rada
Ekonomija