Identifikace imperfekcí a hodnocení flexibility trhů práce vybraných zemí EU

Abstract

This diploma thesis aims to estimate the level of wage flexibility in 12 selected countries of the European Union. Countries are divided into three groups: countries of Central and Eastern Europe (CEE), countries of the core and countries of periphery. The approach used is based on the institutional set-up of the labor market, where a comprehensive index is created for the assessment of institutional characteristics. To estimate the real wage elasticity, a macroeconomic method based on the Phillips curve is used, which is also the second approach. The results show that the countries of the core have a higher degree of flexibility on the labor market, even though the institutional setting promotes wage flexibility in CEE countries more