Hystereze nezaměstnanosti v ČR a makroekonomické dopady hospodářské krize
| Title in English | Hysteresis in unemployment in the Czech Republic and macroeconomic impacts of economic crisis |
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| Authors | |
| Year of publication | 2011 |
| MU Faculty or unit | |
| Citation | |
| Description | The goal of this contribution is to present empirical results regarding the existence of hysteresis hypothesis in the Czech economy since the second half of the 1990s and the macroeconomic impacts of the last economic downturn. Identified positive and negative hysteresis in the Czech unemployment is a result of both tight and expansive economic policy. Empirical findings show the effectiveness of expansionary demand policy which is able to reduce actual unemployment in the long run (without negative inflation effects). Presented empirical results emphasizes the role of long-term unemployed and the role of corresponding policy tools (flexicurity). Moreover, it may be concluded that hysteresis phenomenon is accompanied by a weak relationship between unemployment dynamics and economic growth. |