scholarly journals Econometric modelling of unemployment in Serbia during period 2008-2013

2014 ◽  
Vol 24 (3) ◽  
pp. 333-346
Author(s):  
Aleksandra Anic ◽  
Zorica Mladenovic

The purpose of the paper is to econometrically exploit the characteristics of unemployment in Serbia upon the start of the 2008 economic crisis. The methodological framework is based on the cointegrated vector autoregressive model that consists of the following macroeconomic variables: unemployment rate, prices, nominal wages and nominal exchange rate. These variables are unit-root processes and their relationship is examined within the multivariate cointegrated time series set-up. Following the deductive modelling approach, we reached the specification that explains unemployment rate by real wages. The results show the negative consequences of the economic crisis to the labour market, with an extremely high increase in the unemployment rate. Strong negative impact of real wages on unemployment rate is additionally confirmed by its dynamic effects throughout the impulse response function.

Industrija ◽  
2020 ◽  
Vol 48 (4) ◽  
pp. 7-22
Author(s):  
Aleksandra Anić ◽  
Zorica Mladenović

Dynamic relationship among unemployment rate and key macroeconomic variables is explored for the Serbian economy that has been characterized by high unemployment rates since the outcome of the Great Recession. This analysis reveals how effective policy measures can be in reducing unemployment rate. Cointegrated vector autoregressive model is employed for the period 2014-2019. Prior to multivariate dynamic modelling, the validity of hysteresis hypothesis for unemployment rate is assessed. Obtained results show significant negative long-run effect of real wages on unemployment rate, and positive long-run effect of real effective exchange rate appreciation on real wages. For further reduction of unemployment rate demand-side measures should be employed.


2021 ◽  
Vol 107 ◽  
pp. 06009
Author(s):  
Emad Attia Mohamed Omran ◽  
Yuriy Bilan

Unemployment and inflation are among the most critical phenomena facing both developed and developing countries due to their harmful social, economic, and political effects. The Egyptian monetary policy’s main objective is to maintain a low inflation rate in the medium run to keep the confidence and a high rate of investment and economic growth. At the same time, economists argue that targeting a low-rate of inflation may increase unemployment. Although the classical Philips curve indicates a trade-off between inflation and unemployment, several empirical studies have argued that the relationship between inflation and unemployment depends on the shocks’ source and lagged responses. The main objective of this paper is to examine the relationship between inflation and Egypt’s unemployment rate. We used time-series data from 1980 to 2019, where a vector autoregressive (VAR) model and the Impulse response function tool (IRF) were employed. The results show that inflation has a positive relationship with GDP while negatively affecting the unemployment rate.


2017 ◽  
Vol 9 (11) ◽  
pp. 109
Author(s):  
Mohammad Ibrahim Malawi Alrabba

This study aims to investigate the determinants of unemployment rate in Jordan during the period (1992-2015). The Augmented Dickey- Fuller test (ADF) was utilized to examine the stationarity of the variables of this study. The results have shown that the variables are stationary at different orders, I(0), I(1), and I(2). The Granger causality test found that there is a unidirectional causal relationship running from private investment to unemployment rate.Two tools of analysis were employed: impulse response function and variance decomposition through applying a vector autoregression (VAR) model. The final results have shown that private investment has a negative impact on unemployment rate in Jordan, which explains about 2.64% of the variations in the unemployment rate in the second period and (1.58%) in the fourth period. This percentage also tends to decline to a level at which the explanatory power of private investment for the forecast error in the unemployment rate can reach 1.34% in the ninth period.


Author(s):  
А.А. Алдашева ◽  
А.С. Баканов ◽  
М.Е. Зеленова ◽  
О.В. Рунец

Экономический кризис, спровоцированный пандемией вируса COVID-19, оказывает негативное влияние на рынок труда, приводит к сокращению рабочих мест, росту безработицы и необходимости для миллионов людей менять работe и профессию. Спад экономики и неопределенность, связанная с коронавирусом, выступают стрессогенными факторами, оказывающими негативное воздействие на психологическое благополучие субъектов труда, вызывая тревогу, депрессию и появление признаков синдрома безработного. В представленной работе проблема профессиональной ориентации и переориентации в период экономического кризиса анализируется с учетом роли менталитета профессионала. Выделяются основные ресурсы и стратегии, способствующие профориентации, переориентации или поиску работы, которые может использовать субъект трудовой деятельности в период социально-экономического кризиса. Обсуждаются предикторы ресурсности субъекта труда: готовность к переобучению, инициативность, способность принимать решения в ситуациях неопределенности и дефицита времени, быстро и адекватно оценивать происходящие изменения и др. Рассматриваются психологические составляющие программы профориентации и переориентации на основе математических и имитационных моделей рынка труда, среди которых выделяются: формирование профессионально-социальной идентичности, ориентированной на определенный тип профессий, общность мировоззренческих и профессиональных взглядов, норм, правил, традиций сообщества специалистов, а также принципы оценки эффективности трудовой деятельности и др. Учитывая инерционный характер подготовки специалистов, емкость рынка труда, эволюцию профессий в глобальном масштабе, в программу предлагается включить разделы, содержащие способы и приемы нивелирования переживаний и негативных состояний, детерминированных изменением социального и профессионального статуса субъекта труда, создание общественного дискурса, поддерживающего ценность мотивации на труд, ориентацию и способность человека строить свое экономическое благополучие. The economic crisis triggered by the COVID-19 pandemic has a negative impact on the labor market. According to international experts, the COVID-19 pandemic will bring more negative consequences to the global labor market than the global financial crisis of 2008-2009. Depending on the varying scale of the consequences of the COVID-19 pandemic, unemployment is forecast to increase throughout the world. The economic slowdown and uncertainty of the economics are stressful factors for all market participants. The article discusses the resources and strategies for career guidance, reorientation or job search that can be used by the subject of labor during the socio-economic crisis. Readiness for reeducation and initiative as a personality trait are important predictors of success in the search for a new field of activity during the socio-economic crisis. Also, predictors of success include: the ability to make decisions in uncertainty, make decisions in deficiency of time, and the ability to react quickly and adequately according to the changing conditions of the external environment. While the assessment the ability of an employer as a subject of labor to act, and make decisions in conditions of uncertainty (which is typical for the labor market in the crisis and post-crisis period), it is necessary to consider the subject's knowledge, skills, and ability to make decisions. The success of professional orientation and professional reorientation of the subject of labor activity is determined by a combination of factors: the level of professionalism and professional competence, initiative and readiness for retraining, motivation, etc., but the success of the individual in the newly chosen profession is in the professional mentality that is the psychological construct in a newly designed system "subject of labor - profession - professional Self-concept".


2020 ◽  
Vol 8 (3) ◽  
pp. 3-17
Author(s):  
Elena Blagoeva

The impact of the last global economic crisis (2008) on the European economy put a strain on higher education (HE), yet it also pushed the sector towards intensive reforms and improvements. This paper focuses on the “Strategy for the Development of Higher Education in the Republic of Bulgaria 2014-2020”. With a case study methodology, we explore the strategic endeavours of the Bulgarian government to comply with the European directions and to secure sustainable growth for the HE sector. Our research question is ‘How capable is the Bulgarian HE Strategy to overcome the economic and systemic restraints of Bulgarian higher education?’. Because the development of strategies for HE within the EU is highly contextual, a single qualitative case study was chosen as the research approach. HE institutions are not ivory towers, but subjects to a variety of external and internal forces. Within the EU, this is obviated by the fact that Universities obtain their funds from institutions such as governments, students and their families, donors, as well as EU-level programmes. Therefore, to explore how these pressures interact to affect strategic action on national level, the case method is well suited as it enabled us to study the phenomena thoroughly and deeply. The paper suggests the actions proposed within the Strategy have the potential to overcome the delay, the regional isolation and the negative impact of the economic crisis on the country. Nevertheless, the key elements on which the success or failure of this Strategy hinges are the control mechanisms and the approach to implementation. Shortcomings in these two aspects of strategic actions in HE seem to mark the difference between gaining long-term benefits and merely saving face in front of international institutions.


2015 ◽  
Vol 3 (1) ◽  
Author(s):  
Sunita ◽  
Urvashi Singh ◽  
Shalini Singh ◽  
Rajnee Sharma

The present study was conducted to examine the relationship between organisational stress and organisational citizenship behaviours (OCBs) in employees of call centers. The study also further explored as how stress at work set-up has negative impact on OCBs. A sample of 250 employees working in call centre of Gurgaon belonging to an age group of 25-30 years were selected on availability basis. All were working married couples living in nuclear families. Job stress survey (Spielberger & Vagg, 1999) and Organisational Citizenship Behaviour (Bateman & Organ, 1983) were administered. Data was analysed by using simple correlation and multiple regression. Results showed the negative relationship between organisational stress and OCBs. Results of regression analysis also exhibited the negative impact of stress on OCBs. The implications for the employees are discussed.


Author(s):  
Md. Ziaul Haque

The tourism sector is experiencing numerous challenges as a result of the global economic crisis. After a significant contraction in 2009, tourism rebounded strongly  in  2010  and  in  2011  the  international  tourist  arrivals  and  receipts  are projected to increase substantially. The Tourism industry is expected to show a sustained recovery in 2012. The crisis has particularly strong impact and slightly negative consequences in Bangladesh. The country is undergoing a political crisis, as well, and it seems that the forthcoming elections may be the only solution for the restoration of stability and social peace.  In addition, tourism can be the driving force behind Bangladesh economic recovery. However, for its achievement the country’s policy makers should take several measures towards restructuring and improving the sector. These measures include: enhancement of alternative forms of tourism; environmental protection; creation of quality infrastructure; and boost of competitiveness through a tourism product that offers value for money


Author(s):  
Md. Ziaul Haque

The tourism sector is experiencing numerous challenges as a result of the global economic crisis. After a significant contraction in 2009, tourism rebounded strongly  in  2010  and  in  2011  the  international  tourist  arrivals  and  receipts  are projected to increase substantially. The Tourism industry is expected to show a sustained recovery in 2012. The crisis has particularly strong impact and slightly negative consequences in Bangladesh. The country is undergoing a political crisis, as well, and it seems that the forthcoming elections may be the only solution for the restoration of stability and social peace.  In addition, tourism can be the driving force behind Bangladesh economic recovery. However, for its achievement the country’s policy makers should take several measures towards restructuring and improving the sector. These measures include: enhancement of alternative forms of tourism; environmental protection; creation of quality infrastructure; and boost of competitiveness through a tourism product that offers value for money


Author(s):  
Gerhard Bosch ◽  
Thorsten Kalina

This chapter describes how inequality and real incomes have evolved in Germany through the period from the 1980s, through reunification, up to the economic Crisis and its aftermath. It brings out how reunification was associated with a prolonged stagnation in real wages. It emphasizes how the distinctive German structures for wage bargaining were eroded over time, and the labour market and tax/transfer reforms of the late 1990s-early/mid-2000s led to increasing dualization in the labour market. The consequence was a marked increase in household income inequality, which went together with wage stagnation for much of the 1990s and subsequently. Coordination between government, employers, and unions still sufficed to avoid the impact the economic Crisis had on unemployment elsewhere, but the German social model has been altered fundamentally over the period


Author(s):  
Marina Yiasemidou

AbstractThe COVID-19 pandemic and infection control measures had an unavoidable impact on surgical services. During the first wave of the pandemic, elective surgery, endoscopy, and ‘face-to-face’ clinics were discontinued after recommendations from professional bodies. In addition, training courses, examinations, conferences, and training rotations were postponed or cancelled. Inadvertently, infection control and prevention measures, both within and outside hospitals, have caused a significant negative impact on training. At the same time, they have given space to new technologies, like telemedicine and platforms for webinars, to blossom. While the recovery phase is well underway in some parts of the world, most surgical services are not operating at full capacity. Unfortunately, some countries are still battling a second or third wave of the pandemic with severely negative consequences on surgical services. Several studies have looked into the impact of COVID-19 on surgical training. Here, an objective overview of studies from different parts of the world is presented. Also, evidence-based solutions are suggested for future surgical training interventions.


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