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The analysis of causes of the youth unemployment (15-24 age class) in European Union in years 2000-2015
Šulai, Michal ; Czesaný, Slavoj (advisor) ; Bartůsková, Lucia (referee)
The aim of this thesis was to analyze main causes of youth unemployment in countries of European Union. In order to assess main determinants of this negative phenomenon, an econometric model based on panel data was constructed. Source dataset, containing mainly Eurostat data, covers EU-28 countries in the 2000-2014 period. Results of a regression inclined that youth unemployment is effected mainly by overall economic development. Youth unemployment is more sensitive for economic downturns than unemployment in an adult age class. The model also suggested that cuts in payroll taxes and deregulation in the minimum wage legislation could have positive effect on youth employment. Based on the literature, reforms toward more practical and effective education system with elements of dual apprenticeship, could be also a positive step in tackling youth unemployment. However, an econometric-based proof of this hypothesis was not found.
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Empirical analysis of Okun’s law in Iceland
Zajíček, Zdeněk ; Slaný, Martin (advisor) ; Chytilová, Helena (referee)
This thesis deals with empirical analysis of Okuns law in Iceland. Okuns hypothesis of negative relationship between real GDP and the rate of unemployment is being tested on two models, difference and gap, using OLS estimation. Also there are two filtration methods used (Hodrick-Prescott and Baxter-King) for gap model estimation. The results of all models showed weak relationship of variables, but proved the hypothesis. In the following part, the same procedure is being used on Finlands data, to get comparison of coefficients. Results for Finland showed weaker bond of variables than in Iceland, but the Okuns hypothesis still holds. Last part is focused on finding the sensitivity of rate of unemployment to changes in added value of each economical sector in Iceland using the production approach model. This model gave inconclusive results due to insufficient data available.
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Analysis of correlation between unemployment rate and GDP in Czech Republic and Poland after 1989
Walach, Janusz ; Petrášek, František (advisor) ; Houdek, Petr (referee)
This thesis focuses on corelation between unemployment and gross domestic product in the Czech Republic and Poland during the period 1990 - 1998. It analyses an empirically observed relationship relating change in unemloyment rate to change in GDP -- Okun's law. After presenting aproaches of different economic schools to unemployment, this work analyses and compares changes in unemployment and labour market as well as identifies the main factors of economic growth and unemployment rate. It faces a problem of discrepancy and inaccuracy of statistical data from the transformation period as well as rapidly changing factors that influenced the natural rate of unemployment and potential output. These reasons made it impossible to uniquely determine validity of Okun's law during transformation period in the Czech Republic and Poland.
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