ECONOMETRIC MODELING OF REGIONAL LABOR MARKETS OF UKRAINE
Journal Title: Проблеми системного підходу в економіці - Year 2017, Vol 2, Issue 58
Abstract
The labor market is one of the main elements of the market economy and the fundamental subject of research on the labor economy. The modern labor market in Ukraine is characterized by a significant level of tension due to the processes taking place in the social life of the country. The main problems on the way of the Ukrainian labor market development are: low level of labor costs; incomes inequality of different strata of the population; poverty; unemployment; structural and interregional imbalances. The study of various aspects of the labor market functioning was carried out by many Ukrainian and foreign scientists. The aim of the article is to model modern regional labor markets in Ukraine and to study the possibilities of using the model for forecasting the development trends of the country's labor resources. Econometric modeling of the labor market functioning and development in Ukraine will help to build adequate strategies for its regulation. The resulting sign in the model construction was selected to be the average employment level. Using the construction of correlation coefficients matrix, factors that have a significant effect on the level of employment were found. These are: labor productivity, the volume of capital investments, the number of economically active population and the average monthly salary of employees. A multifactor econometric model is constructed, its adequacy is proved. MS EXCEL spreadsheets are used to calculate model parameters. The absence of multicollinearity and homoconality of the initial data is verified. The constructed econometric model contributes to the identification of unique features of the labor market and can be used to shape the directions of socio-economic policy and to forecast the trends in the development of the labor market.
Authors and Affiliations
D. V. Okara, V. G. Chernyshev, V. N. Shynkarenko
Keywords
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