Labor Market Frictions in the Estimated DSGE Model for Armenia - Igityan, Haykaz
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This work develops DSGE model for Armenia allowing the household to supply labor both to formal and informal sectors. The work discusses costs per hire, which is equivalent to matching function approach adopted by search models. The model is estimated by Bayesian method using 9 Armenian time series and 9 structural shocks. The estimated model reproduces dynamics of data quite well. Estimated structural shocks are supported by stylized facts and historical events. The fully micro-founded model with labor market frictions allows getting a deeper insight into the Armenian labor market developments.…mehr

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Produktbeschreibung
This work develops DSGE model for Armenia allowing the household to supply labor both to formal and informal sectors. The work discusses costs per hire, which is equivalent to matching function approach adopted by search models. The model is estimated by Bayesian method using 9 Armenian time series and 9 structural shocks. The estimated model reproduces dynamics of data quite well. Estimated structural shocks are supported by stylized facts and historical events. The fully micro-founded model with labor market frictions allows getting a deeper insight into the Armenian labor market developments.
Autorenporträt
Haykaz Igityan has obtained his M.Sc. degree in Economics in 2014. He has been working in Monetary Policy Department of Central Bank of Armenia since 2013. His research interests are focused on the analysis of labor market issues and developing structural models for Armenia. He participated in many international courses, trainings and conferences.