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Modelling the Labour Market in Bulgaria

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  • Vassil Tzanov

Abstract

This study is an attempt to estimate and analys the links and relationships of the main elements and flows of the Bulgarian labour market at 90s in their simultaneity. For this purpose the econometric modeling is used, and in particularly the new approach from general to specific modelling and cointegration analyses. In this connection the statistical properties of the variables and their possibilities to modelling are investigated. There are specified and estimated the econometric models describing the long and short-run relationships of the employment, vacancies, matching function, wages and prices. A simulation short-run econometric model of the Bulgarian labour market incorporating the error correction mechanisms (ECM) is build up and estimated. Characteristics of the properties and possibilities of the model for analyses, forecast and simulation of different labour market policies are made.

Suggested Citation

  • Vassil Tzanov, 1999. "Modelling the Labour Market in Bulgaria," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 1, pages 123-172.
    • Handle: RePEc:bas:econst:y:1999:i:1:p:123-172
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    1. Banerjee, Anindya & Dolado, Juan J. & Galbraith, John W. & Hendry, David, 1993. "Co-integration, Error Correction, and the Econometric Analysis of Non-Stationary Data," OUP Catalogue, Oxford University Press, number 9780198288107.
    2. Frisch, Helmut, 1977. "Inflation Theory 1963-1975: A "Second Generation" Survey," Journal of Economic Literature, American Economic Association, vol. 15(4), pages 1289-1317, December.
    3. Oliver Jean Blanchard & Peter Diamond, 1989. "The Beveridge Curve," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 20(1), pages 1-76.
    4. Dickey, David A & Fuller, Wayne A, 1981. "Likelihood Ratio Statistics for Autoregressive Time Series with a Unit Root," Econometrica, Econometric Society, vol. 49(4), pages 1057-1072, June.
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    Cited by:

    1. Vassil Tzanov, 2007. "Estimates of Labour Market Flexibility in Bulgaria," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 7, pages 27-46.

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