MACROECONOMIC APPROACH TO LABOUR MARKET AND ITS PERSPECTIVES IN THE EUROPEAN CONTEXT
MACROECONOMIC APPROACH TO LABOUR MARKET AND ITS PERSPECTIVES IN THE EUROPEAN CONTEXT

Summary/Abstract: In the contribution, attention is given to the evolution of public sector employment in the countries of the Visegrad Group over the period of 200Q1 – 2010Q4 in comparison to the evolution of private sector employment. The aim is of the contribution is to identify internal causal relationships determining this evolution and to establish its key factors. With this respect – on the basis of relevant economic theory – a linear system of simultaneous equations is constructed, with the assistance of which the key factors of public employment trends are identified in each of the four Visegrad Group states and some empirical paradoxes are observed. It appears that in each state there are different factors at work to determine public sector employment trends, which contradicts the existence of a unified and universal exposition of public sector employment theory.

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