Odhad nákladů nezaměstnanosti z pohledu veřejných rozpočtů

Unemployment Cost Estimate from Public Budgets Perspective

Jan Cadil, Tomáš Pavelka, Eva Kaňková and Jan Vorlíček

Politická ekonomie, 2011, vol. 2011, issue 5, 618-637

Abstract: Unemployment is undoubtedly phenomenon with serious social-economic impact on individuals and society as a whole. It is however also affecting public budgets lowering their incomes and increasing their costs. In accordance to recent economic crisis and continuous indebting of state budgets unemployment has become an interesting issue from the public deficit point of view. This paper estimates public budgets costs of unemployment in the Czech Republic in 2009. However the proposed methodology is generally applicable. We calculate not only direct cost which consist of tax reduction and unemployment benefits but also indirect cost resulting from decreased consumption (and production) of newly unemployed individual. Our method is based on construction of median unemployed, who represents a typical unemployed with median wage, age, education and length of unemployment. Indirect effects of unemployment are calculated with modified Okun's law estimate.

Keywords: unemployment; median unemployed; public deficit; cost of unemployment; okun´s law (search for similar items in EconPapers)
JEL-codes: J65 J68 (search for similar items in EconPapers)
Date: 2011
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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DOI: 10.18267/j.polek.811

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