Naslov
Macroeconomic determinants of unemployment in Croatia: Subset VEC model

Autori
Benazić, Manuel ; Učkar, Dean

Vrsta, podvrsta i kategorija rada
Radovi u zbornicima skupova, cjeloviti rad (in extenso), znanstveni

Izvornik
Economic and Social Development / Li Yongqiang, Anica Hunjet, Ante Roncevic - Prag : VADEA ; City of Prague ; Sveučilište Sjever ; Faculty of Management University of Warsaw, 2017, 314-325

Skup
20th International Scientific Conference on Economic and Social Development

Mjesto i datum
Prag, Češka Republika, 27.04.2017. - 28.04.2017

Vrsta sudjelovanja
Predavanje

Vrsta recenzije
Međunarodna recenzija

Ključne riječi
Cointegration, Croatia, Subset VEC model, Unemployment

Sažetak
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.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

POVEZANOST RADA