The application of Markov chain model to the description of Hungarian market processes
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RIS BIB ENDNOTEThe application of Markov chain model to the description of Hungarian market processes
Publication date: 2011
Public Management, 2011, Issue 4 (16), pp. 133 - 149
https://doi.org/10.4467/20843968ZP.12.033.0500Authors
The application of Markov chain model to the description of Hungarian market processes
Different methods can be selected from the statistical mathematical toolbar to describe labor market processes. The paper applies Markov model, a method rarely used in regard to labor market. This method is popular in several disciplines including regional economics to manage income inequalities, sociology, microeconomics and public health. The advantage of the model is that it illustrates well the mobility in each status making it easier to generate predictions. The paper examines NUTS3 level unemployment data in Hungary over the period 1992–2009 using Markov chain model.
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Information: Public Management, 2011, Issue 4 (16), pp. 133 - 149
Article type: Original article
Titles:
The application of Markov chain model to the description of Hungarian market processes
The application of Markov chain model to the description of Hungarian market processes
University of Miskolc
Published at: 2011
Article status: Open
Licence: None
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