Title in English: Unemployment hysteresis in the Czech Republic. Macroeconomic framework
This book aims to provide a balanced and comprehensive study of unemployment hysteresis. An innovative feature of this book is the detailed descriptions of the most important hysteresis mechanisms and their macroeconomic implications. Moreover, the book includes basic explanations of classical and bayesian econometric methods. The author then goes on to show how, in practice, these methods apply to verify the existence of hysteresis hypothesis (not only) in the Czech economy since the second half of the 1990s. To verify the hysteresis effects (in the macroeconomic and microeconomic framework), the book presents the representative models. Positive and negative hysteresis are found in the Czech unemployment as a result of both tight and expansive economic policy.
