The Adaptive Markets Hypothesis and the BRIC Share Markets
The Adaptive Markets Hypothesis and the BRIC Share Markets

Summary/Abstract: In the paper we analyse the flows in and out of the unemployed together with the flows of the foreign workers into the Czech labour market. Using the statistical data we provide comparison of the number of foreign workers and the unemployment rate in the Czech Republic and analyze the skill levels of jobs that the foreigners occupy.To test the possible effects of the presence of the foreign workers we use the theory of the search models and regression analysis and check for possible effects of foreign workers on the dynamics of wages and unemployment rate. We show that there no significant effects of foreign workers and that the search model gives rather satisfactory results with respect to the other determinants of wage growth and unemployment rate.

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