Home Part 2 MACROECONOMIC APPROACH TO LABOUR MARKET AND ITS PERSPECTIVES IN THE EUROPEAN CONTEXT

 

Macroeconomic approach to labour market and its perspectives in the European context

 

 

Peter Bilka, Martin Boďa

Matej Bel University in Banská Bystrica, Faculty of Economics

Department of Economics, Department of Quantitative Methods and Information Systems, This e-mail address is being protected from spambots. You need JavaScript enabled to view it , This e-mail address is being protected from spambots. You need JavaScript enabled to view it

 

 

Abstract

In the contribution, attention is given to the evolution of public sector employment in the countries of the Visegrad Group over the period of 200Q1 – 2010Q4 in comparison to the evolution of private sector employment. The aim is of the contribution is to identify internal causal relationships determining this evolution and to establish its key factors. With this respect – on the basis of relevant economic theory – a linear system of simultaneous equations is constructed, with the assistance of which the key factors of public employment trends are identified in each of the four Visegrad Group states and some empirical paradoxes are observed. It appears that in each state there are different factors at work to determine public sector employment trends, which contradicts the existence of a unified and universal exposition of public sector employment theory.

Keywords: public sector employment, factors of employment, Visegrad Group, business cycle, cost labour productivity, labour costs


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