Economics at your fingertips  

Kvantifikácia vplyvu zmien a zdrojov hospodárskeho rastu na elasticitu trhu práce v krajinách Európskej únie

Quantification of Effect of Changes and Sources of Economic Growth on Labour Market Elasticity in EU Countries

Monika Daňová and Ivana Kravčáková Vozárová

Politická ekonomie, 2021, vol. 2021, issue 6, 669-688

Abstract: The aim of the paper is to verify the sensitivity of national labour markets to economic growth while respecting its sources and different growth trends. We monitored the change in employment caused by economic growth in the set of EU27 member states in the period 2000-2019. The sensitivity of the labour market was quantified by finding the values of the elasticity coefficient. To obtain it, we used a relation to calculate the point elasticity as well as a logarithmic linear regression model compiled for each member state. The differences in the response of the labour market were identified by comparing the values of the indicator. To determine the factors of employment changes, partial analyses were performed by dividing the evaluated period into sections, especially into periods of growth and decline. As a result, it was possible to identify the impact of economic development trends on the elasticity of the labour market. At the same time, subsets (groups of countries) were created based on similarity of labour productivity levels and employment rates. The results of the analyses indicated that the labour market in all cases responded to changes in economic performance in a short period of time, while the strength of the influence is also affected by the stability of economic development.

Keywords: Labour market; employment; economic growth; employment elasticity; labour productivity (search for similar items in EconPapers)
JEL-codes: C01 E24 F43 J40 R11 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed

Downloads: (external link) (text/html) (application/pdf)
free of charge

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link:

Ordering information: This journal article can be ordered from
Redakce Politické ekonomie, Vysoká škola ekonomická, nám. W. Churchilla 4, 130 67 Praha 3

DOI: 10.18267/j.polek.1334

Access Statistics for this article

Politická ekonomie is currently edited by Jiřina Bulisová

More articles in Politická ekonomie from Prague University of Economics and Business Contact information at EDIRC.
Bibliographic data for series maintained by Stanislav Vojir ().

Page updated 2022-02-12
Handle: RePEc:prg:jnlpol:v:2021:y:2021:i:6:id:1334:p:669-688