STUDY OF LABOUR DYNAMICS USING THE SEMI-MARKOVIAN PROCESSES
The current paper attempts to describe the labor market parameter dynamics using a different method, namely the semi-Markovian processes. This method allows for the labor market study without the large fluctuations that occurred at a certain moment in time impinging upon the results of the future estimations. This method, like other statistic and econometric methods provide the economic agent with information for adopting long run decisions, through which possible development trajectories are drawn for economic, budgetary and financial strategies.
Key words: labour force dynamics, semi-Markow processes
JEL Classification: J60, C19