Discussion to the paper by Jan Brůha
| Authors | |
|---|---|
| Year of publication | 2011 |
| Type | Article in Periodical |
| Magazine / Source | Finance a úvěr - Czech Journal of Economics and Finance |
| MU Faculty or unit | |
| Citation | |
| Field | Economy |
| Keywords | structural time series; labor market; forecasting |
| Description | This article is a discussion to the paper "An Empirical Small Labor Market Model for the Czech Economy" by Jan Brůha. This discussion summarizes the main contributions and pitfalls of Brůha's paper. It provides an alternative view of the issue and puts it in a wider context. The main objective of this discussion is to propose a specification of trend in unemployment, which allows for hysteresis in unemployment. Such specification would improve the empirical properties of the model. |
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