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Macroeconomic determinants of unemployment in Croatia: Subset VEC model (CROSBI ID 649476)

Prilog sa skupa u zborniku | izvorni znanstveni rad | međunarodna recenzija

Benazić, Manuel ; Učkar, Dean Macroeconomic determinants of unemployment in Croatia: Subset VEC model // Economic and social development / Li Yongqiang, Anica Hunjet, Ante Roncevic (ur.). 2017. str. 314-325

Podaci o odgovornosti

Benazić, Manuel ; Učkar, Dean

engleski

Macroeconomic determinants of unemployment in Croatia: Subset VEC model

Maintaining low unemployment rate is one of the most important objectives of economic policy. Economic policy affects unemployment mainly through monetary and fiscal policy, trying to affect aggregate supply and demand for goods and services. In Croatia, unemployment rate is significantly higher in relation to other countries of the European Union (EU) and represents a big problem for economic policy creators. Many studies show that unemployment depends on several factors. Therefore, the aim of this study is to determine the impact of productivity, prices and real wages on unemployment in Croatia. For this purpose, the subset vector error correction (VEC) model is applied. The results indicate the existence of two stable cointegration relationships between the variables whereby an increase in productivity, prices and wages lead to a decrease in unemployment.

Cointegration, Croatia, Subset VEC model, Unemployment

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Podaci o prilogu

314-325.

2017.

objavljeno

Podaci o matičnoj publikaciji

Economic and Social Development

Li Yongqiang, Anica Hunjet, Ante Roncevic

Prag: VADEA ; City of Prague ; Sveučilište Sjever ; Faculty of Management University of Warsaw

1849-7535

Podaci o skupu

20th International Scientific Conference on Economic and Social Development

predavanje

27.04.2017-28.04.2017

Prag, Češka Republika

Povezanost rada

Ekonomija