| Tekijä: | Bruno, R.L. |
| Otsikko: | Optimal speed of transition with a shrinking labour force and under uncertainty |
| Lehti: | Economics of transition
2006 : VOL. 14:1, p. 69-100 |
| Asiasana: | transition economies labour markets policy employment unemployment models Central Europe Eastern Europe |
| Kieli: | eng |
| Tiivistelmä: | In the 1990s, Central European economies experienced high unemployment during the restructuring of large state enterprises. In 1992, after the Passive Labour Market Policies' reforms, the pace of transition decelerated. Unemployment dynamics, speed of transition and non-employment policies are modelled based on the assumption that the labour force is shrinking over time. Individual uncertainty is assumed in a first phase of transition, while aggregate uncertainty is modelled in a second phase. The model predicts a slowdown in the speed of transition. |
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