Econometric model for estimating the Georgian labour market equilibrium

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dc.contributor.authorAnaniashvili, Iuri
dc.date.accessioned2023-01-25T10:02:53Z
dc.date.available2023-01-25T10:02:53Z
dc.date.issued2022
dc.description1. Williamson, S. D. (2014). Macroeconomics. 5th Edition, Pearson Education; – 720 p. 2. Greene, W. (2012) Econometric Analysis. 7th Edition, Prentice Hal. 3. Wooldridge J. (2012). Introductory Econometrics: A Modern Approach. 5th edition, Cengage Learning, – 912 p. 4. Кейн Э. (1977). Экономическая статистика и эконометрия. Введени в количественный экономи- ческий анализ. Перевод с английского. Москва, Статистика. Выпуск. 1 и 2. 5. ანანიაშვილი ი. (2022). ბაზრის მოდელის შეფასება შეზღუდული ინფორმაციის პირობებში. //ეკონომიკა და ბიზნესი. ტომი XVIV, ¹4. 6. https://www.geostat.ge/ka/modules/categories/683/dasakmeba-umushevroba 7. Магнус Я.Р., Катышев П.К., Пересецкий А.А. (2005). Эконометрика. Начальный курс: Москва, Издательский дом «Дело» , 504 с 8. Варшавский А.Е., Кочеткова Е.В. (2018). Моделирование показателей спроса и предложения инженерно-технических специалистов // Экономический анализ: теория и практика. – 2018. – Т. 17, № 5. – С. 886 – 905. 9. Ananiashvili I. (2018). Dependence of Aggregate Supply on the Main Factors Prices of Production. Bulleten of the Georgian National Academy of sciences. Vol. 12, no. 1.en_US
dc.description.abstractThis article proposes a method to estimate the labor market model consisting of regression equations. It takes into account the specifics of the market mechanism and makes it possible to fully or partially identify the functions of labor supply and demand, even when the only data available is on the real wages and the number of employees. Unlike the traditional approach, the proposed method is based on the assumption that not every pair of real wages and the number of employees included in the data sample corresponds to the market equilibrium. The estimation of equations of this model involves a two-step process. First, using the sample of data on real wages and the number of employees, the employment line (curve) is estimated, and the point of its maximum, which corresponds to the point of market equilibrium, is defined. Then, given the location of the equilibrium point, subsamples that define the demand for labor and the labor supply are identified from the total sample, and their respective equations are constructed. The article demonstrates how to apply this method, using the Georgian labor market as an example.en_US
dc.identifier.citationVII International Scientific Conference: "Challenges of Globalization in Economics and Business", Tbilisi, 2022, pp. 28-35en_US
dc.identifier.isbn978-9941-36-061-9
dc.identifier.urihttps://dspace.tsu.ge/handle/123456789/2114
dc.language.isogeen_US
dc.publisherIvane Javakhishvili Tbilisi State University Pressen_US
dc.subjectlabor market model, labor supply function, labor demand function, workforce employment line, equilibrium pointen_US
dc.titleEconometric model for estimating the Georgian labour market equilibriumen_US
dc.typeArticleen_US
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