Labor Market Frictions in the Estimated DSGE Model for Armenia

Labor Market Frictions in the Estimated DSGE Model for Armenia

LAP Lambert Academic Publishing ( 2017-04-20 )

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This work develops DSGE model for Armenia allowing the household to supply labor both to formal and informal sectors. The work discusses costs per hire, which is equivalent to matching function approach adopted by search models. The model is estimated by Bayesian method using 9 Armenian time series and 9 structural shocks. The estimated model reproduces dynamics of data quite well. Estimated structural shocks are supported by stylized facts and historical events. The fully micro-founded model with labor market frictions allows getting a deeper insight into the Armenian labor market developments.

Book Details:

ISBN-13:

978-3-330-07656-3

ISBN-10:

3330076569

EAN:

9783330076563

Book language:

English

By (author) :

Haykaz Igityan

Number of pages:

112

Published on:

2017-04-20

Category:

Economics