View More View Less
  • 1 Poznan University of Economics, Poznan, Poland
Restricted access

Purchase article

USD  $25.00

1 year subscription (Individual Only)

USD  $700.00

The aim of this study is to apply the stochastic job search framework to the analysis of three transition economies (Poland, Hungary, and the Czech Republic). Two versions of equilibrium unemployment models have been developed resembling Mortensen and Pissarides’ models, namely the dynamic and stochastic models. The dynamic model’s properties were briefly examined by evaluating the Jacobian matrix and plotting the phase plane of the economy. In the primary analysis of the stochastic model, job destruction decisions are endogenous as a response to random productivity changes. A martingale, i.e. a discrete-space version of the geometric Brownian motion with the drift and volatility parameter, was used to enable fluctuation of endogenous variables and to perform numerical simulations. The results are promising, although ambiguous in some points, e.g. the main model-generated time-series are close to the empirical time-series, including reasonable fluctuations, correlation signs, and autocorrelations. However, the model was unable to capture some subtle differences in productivity and job destruction rate series across the countries, which is its main limitation.

  • Abeille-Becker, C.Clerc, P. (2013): The Cyclical Behavior of the Unemployment, Job Finding and Separation Rates. Revue Economique, 64(3): 519526.

    • Search Google Scholar
    • Export Citation
  • Acemoglu, D. (2011). Diversity and Technological Progress. In: The Rate and Direction of Inventive Activity Revisited. Cambridge: National Bureau of Economic Research.

    • Search Google Scholar
    • Export Citation
  • Baxter, M.King, R. (1999): Measuring Business Cycles: Approximate Band-Pass Filters for Economic Time Series. The Review of Economics and Statistics, 81(4): 575593.

    • Search Google Scholar
    • Export Citation
  • Becker, A. C.Clerc, P. (2012): The Cyclical Behavior of the Unemployment, Job Finding and Separation Rates. Paris School ot Economics. Available on-line: http://sam2012.ucy.ac.cy/wpcontent /uploads/2012/05/Paper-Camille-Abeille-Becker.pdf

    • Search Google Scholar
    • Export Citation
  • Benati, L.Lubik, T. (2012): Sales, Inventories, and Real Interest Rates: A Century of Stylized Facts. Working Paper, No. 12-02, Federal Reserve Bank of Richmond.

    • Search Google Scholar
    • Export Citation
  • Bukowski, M.Kowal, P.Lewandowski, P. (2011): Modelowa analiza rynków pracy o różnej strukturze instytucjonalnej (Modelling labour markets with different institutional structure). Warsaw: Institute for Structural Research.

    • Search Google Scholar
    • Export Citation
  • Davis, S.Haltiwanger, J.Schuh, S. (1998): Job Creation and Destruction. ME: MIT Press.

  • Gatheral, J.Schied, A. (2011): Optimal Trade Execution under Geometric Brownian Motion in the Almgren and Chriss Framework. International Journal of Theoretical and Applied Finance, 14(3): 353368.

    • Search Google Scholar
    • Export Citation
  • Gomis-Porqueras, P.Benoit, J.Chengsi, W. (2010): Optimal Monetary and Fiscal Policies in a Search-Theoretic Model of Money and Unemployment. MPRA Paper, No. 26262, University Library of Munich, Germany.

    • Search Google Scholar
    • Export Citation
  • Hagedorn, M.Manovskii, I. (2008): The Cyclical Behavior of Equilibrium Unemployment and Vacancies Revisited. American Economic Review, 98(4): 16921706.

    • Search Google Scholar
    • Export Citation
  • Hodrick, R. J.Prescott, E. C. (1997): Postwar U.S. Business Cycles: An Empirical Investigation. Journal of Money, Credit and Banking, 29(1): 116.

    • Search Google Scholar
    • Export Citation
  • Hornstein, A.Krusell, P.Violante, G. (2011): Frictional Wage Dispersion in Search Models: A Quantitative Assessment. American Economic Review, 101(7): 28732898.

    • Search Google Scholar
    • Export Citation
  • Iossifov, P. (2014): Cross-Border Production Chains and Business Cycle Co-Movement between Central and Eastern European Countries and Euro Area Member States. Working Paper Series, No. 1628, European Central Bank.

    • Search Google Scholar
    • Export Citation
  • Lamo, A.Messina J.Wasmer, E. (2011): Are Specific Skills an Obstacle to Labour Market Adjustment? Labour Economics, 18(2): 240256.

    • Search Google Scholar
    • Export Citation
  • Mortensen, D. (2005): Wage Dispersion: Why Are Similar Workers Paid Differently? Cambridge MA: The MIT Press.

  • Mortensen, D.Nagypal, E. (2007): More on Unemployment and Vacancy Fluctuations. Review of Economic Dynamics, 10(3): 327347.

  • Mortensen, D.Pissarides, Ch. (1994): Job Creation and Job Destruction in the Theory of Unemployment. Review of Economic Studies, 61(3): 397415.

    • Search Google Scholar
    • Export Citation
  • Mortensen, D.Pissarides, Ch. (1999): New Developments in Models of Search in the Labour Market. In: Ashenfelter, O.Card, D. (eds): Handbook of Labour Economics. Elsevier, pp. 25672627.

    • Search Google Scholar
    • Export Citation
  • Nakajima, M. (2012): Business Cycles in the Equilibrium Model of Labor Market Search and Self-Insurance. International Economic Review, 53(2): 399432.

    • Search Google Scholar
    • Export Citation
  • OECD (2012): OECD Employment Outlook 2012. OECD Publishing. http://dx.doi.org/10.1787/ empl_outlook-2012-en.

  • Pissarides, Ch. (2000): Equilibrium Unemployment Theory. 2nd Edition, Cambridge – Massachussets – London: The MIT Press.

  • Pissarides, Ch. (2011): Equilibrium in the Labour Market with Search Frictions. American Economic Review, 101(4): 10921105.

  • Prat, J. (2006): Job Separation under Uncertainty and the Wage Distribution. The B.E. Journal of Macroeconomics, De Gruyter, 6(1): 134.

    • Search Google Scholar
    • Export Citation
  • Romer, D. (2012): Advanced Macroeconomics. New York: McGraw-Hill Comp.

  • Roszkowska, S. (2009): Aggregate Matching Function. The Case of Poland. Central European Journal of Economic Modelling and Econometrics, 1(2): 157177.

    • Search Google Scholar
    • Export Citation
  • Shimer, R. (2005): The Cyclical Behavior of Equilibrium Unemployment and Vacancies. American Economic Review, 95(1): 2549.

  • Tokarski, T. (2005): Statystyczna analiza regionalnego zróżnicowania wydajności pracy, zatrudnienia i bezrobocia w Polsce (Statistical analysis of labour productivity, employment and unemployment under spatial heterogeneity in Poland). Warsaw: Polish Economic Society.

    • Search Google Scholar
    • Export Citation
  • Woźniak, M. (2015): Aktywne programy rynku pracy: szacunki funkcji dopasowan dla Polski z wykorzystaniem danych regionalnych (Active labour market programs: Some estimates of the matching function for Poland based on regional data). Ekonomista, 1: 1541.

    • Search Google Scholar
    • Export Citation
Submit Your Manuscript
 
The author instruction is available in PDF.
Please, download the file from HERE.

 

The description of the refereeing procedure is available in PDF.
Please, download the file from HERE.

 

 

Senior editors

Editor(s)-in-Chief: Prof. Dr. Mihályi, Péter

Editor(s): Ványai, Judit

Editorial Board

  • Ádám Török (Chairman) / University of Pannonia; Budapest University of Technology and Economics
  • Edina Berlinger / Corvinus University of Budapest, Department of Finance
  • Péter Halmai / Budapest University of Technology and Economics; National University of Public Service
  • István Kónya / Institute of Economics Centre for Regional and Economic Studies, University of Pécs
  • János Köllő / Institute of Economics Centre for Regional and Economic Studies
  • István Magas / Corvinus University of Budapest, Department of World Economy; University of Physical Education, Department. of Sports and Decision Sciences
 

Advisory Board

  • Ǻslund, Anders, Institute of International Economics, Washington (USA)
  • Kolodko, Grzegorz, Kozminski University, Warsaw (Poland)
  • Mau, Vladimir, Academy of National Economy (Russia)
  • Messerlin, Patrick A, Groupe d’Economie Mondiale (France)
  • Saul Estrin, London School of Economics (UK)
  • Wagener, Hans-Jürgen, Europa Universität Viadrina (Germany)

Corvinus University of Budapest
Department of Economics
Fővám tér 8 Budapest, H-1093, Hungary

Indexing and Abstracting Services:

  • EconLit
  • Elsevier GEO Abstracts
  • GEOBASE
  • International Bibliographies IBZ and IBR
  • JEL
  • Referativnyi Zhurnal
  • RePEc
  • SCOPUS
  • Social Science Citation Index
  • Index Copernicus

 

2020  
Total Cites 275
WoS
Journal
Impact Factor
0,875
Rank by Economics 325/377 (Q4)
Impact Factor  
Impact Factor 0,534
without
Journal Self Cites
5 Year 0,500
Impact Factor
Journal  0,38
Citation Indicator  
Rank by Journal  Economics 347/549 (Q3)
Citation Indicator   
Citable 37
Items
Total 37
Articles
Total 0
Reviews
Scimago 13
H-index
Scimago 0,292
Journal Rank
Scimago Economics and Econometrics Q3
Quartile Score  
Scopus 225/166=1,4
Scite Score  
Scopus Economics and Econometrics 392/661 (Q3)
Scite Score Rank  
Scopus 0,668
SNIP  
Days from  289
sumbission  
to acceptance  
Days from  447
acceptance  
to publication  

2019  
Total Cites
WoS
212
Impact Factor 0,914
Impact Factor
without
Journal Self Cites
0,728
5 Year
Impact Factor
0,650
Immediacy
Index
0,156
Citable
Items
45
Total
Articles
45
Total
Reviews
0
Cited
Half-Life
3,9
Citing
Half-Life
9,5
Eigenfactor
Score
0,00015
Article Influence
Score
0,052
% Articles
in
Citable Items
100,00
Normalized
Eigenfactor
0,01891
Average
IF
Percentile
28,437
Scimago
H-index
12
Scimago
Journal Rank
0,439
Scopus
Scite Score
214/165=1,3
Scopus
Scite Score Rank
Economics and Econometrics 355/637 (Q3)
Scopus
SNIP
0,989

 

Acta Oeconomica
Publication Model Hybrid
Submission Fee none
Article Processing Charge 900 EUR/article
Printed Color Illustrations 40 EUR (or 10 000 HUF) + VAT / piece
Regional discounts on country of the funding agency World Bank Lower-middle-income economies: 50%
World Bank Low-income economies: 100%
Further Discounts Editorial Board / Advisory Board members: 50%
Corresponding authors, affiliated to an EISZ member institution subscribing to the journal package of Akadémiai Kiadó: 100%
Subscription fee 2021 Online subsscription: 588 EUR / 732 USD
Print + online subscription: 688 EUR / 860 USD
Subscription fee 2022 Online subsscription: 600 EUR / 750 USD
Print + online subscription: 704 EUR / 880 USD
Subscription Information Online subscribers are entitled access to all back issues published by Akadémiai Kiadó for each title for the duration of the subscription, as well as Online First content for the subscribed content.
Purchase per Title Individual articles are sold on the displayed price.

Acta Oeconomica
Language English
Size B5
Year of
Foundation
1966
Publication
Programme
2021 Volume 71
Volumes
per Year
1
Issues
per Year
4
Founder Magyar Tudományos Akadémia
Founder's
Address
H-1051 Budapest, Hungary, Széchenyi István tér 9.
Publisher Akadémiai Kiadó
Publisher's
Address
H-1117 Budapest, Hungary 1516 Budapest, PO Box 245.
Responsible
Publisher
Chief Executive Officer, Akadémiai Kiadó
ISSN 0001-6373 (Print)
ISSN 1588-2659 (Online)

Monthly Content Usage

Abstract Views Full Text Views PDF Downloads
May 2021 3 0 0
Jun 2021 4 0 0
Jul 2021 0 0 0
Aug 2021 1 0 0
Sep 2021 2 0 0
Oct 2021 0 0 0
Nov 2021 0 0 0