The role of labor market structure and shocks for monetary policy in Kazakhstan

Tolepbergen, Alisher

doi:10.1007/s42495-021-00073-2

Cited by 2 publications

(2 citation statements)

References 18 publications

(31 reference statements)

Supporting

Mentioning

Contrasting

Order By: Relevance

“…Kazakh authors reveal the problems of the labor market, but the topic of freelancing remains underexplored. (Tolepbergen, 2022;Mussurov et al, 2019) In general, freelancing in the CIS is actively explored by Higher School of Economics (HSE University) scientists A. Shevchuk and D. Strebkov. In one of their latest works, they point out how the Russian language and specific socio-economic factors facilitate a distinct online labor market that operates across the vast territory of the former Soviet Union and beyond (Shevchuk et al, 2021).…”

Section: Discussionmentioning

confidence: 99%

The Impact of the State Regulation System on the Income of Freelancers

Abdreissova,

Baitenizov

2023

PPAdm

View full text Add to dashboard Cite

This article presents the tools with which the state can influence the level of income of freelance professionals in Kazakhstan. Foreign methods and ways of state regulation of the freelance market in terms of freelancers' income, the infrastructure of Kazakhstan's remote work market reviewed and analyzed in this article, identified the main characteristics of independent professionals in 2021: working hours, income level, length of service of freelancers, etc. It is noted that freelancers' incomes depend on the influence of the state policy in the field of education and length of service as a freelancer. The stereotype that the more a freelancer works, the more he earns is refuted. In this case, the well-known eight-hour workday standard established by the state is the most optimal option for freelancers to earn more income, which is confirmed by the data of our study. Information is provided on the educational structure of freelancers, the amount of personal monthly income by type of freelancer employment, the experience of freelancers by type of employment, and the average number of hours allocated to work during the week. Multiple regression models of the dependence of freelancers' pay on their education level, work experience, and number of hours worked per week are presented and analyzed in this article. The authors propose recommendations for state regulation that would ensure an effective impact on the level of freelancers' income both in Kazakhstan and in former Soviet Union.

show abstract

Section: Discussionmentioning

confidence: 99%

The Impact of the State Regulation System on the Income of Freelancers

Abdreissova,

Baitenizov

2023

PPAdm

View full text Add to dashboard Cite

show abstract

“…Parameters were calibrated by using estimates from time-series regressions on Kazakhstani macro data or consulting the literature on similar economies. The works on DSGE estimation in the context of Kazakhstan with a more narrow focus include the work by Tolepbergen (2021), which contains an extensive description of the labor market, and Abilov (2021), which estimates a model along the lines of Gerali et al (2010) and focuses on the banking sector and housing. This paper aims to build a more expansive model compared to these works while remaining tractable and retaining interpretability.…”

Section: Introductionmentioning

confidence: 99%

Estimation of a small open economy DSGE model for Kazakhstan

Konebayev

2023

Post-Communist Economies

View full text Add to dashboard Cite

This paper adapts the DSGE (dynamic stochastic general equilibrium) model of Medina and Soto (2007) in the context of Kazakhstani economy, and fully estimates it using Bayesian methods. The main goal of the paper is to contribute to the scarce macroeconomic modeling literature on Kazakhstan.Overall, we find that the oil price shock is key in explaining the variance of virtually all the variables of interest -in particular, it accounts for more than 40% of variance in real exchange rate over the longterm horizon. Furthermore, while the oil price and commodity (oil) production shocks contributed positively to the country's GDP growth in real terms before the Great Recession, their effects have been primarily negative during the two major economic crises of 2007 and 2015, and the fiscal policy has had mixed success in counteracting them. The model produces relatively accurate in-sample predictions for most of the variables compared to VAR and random walk, and outperforms them in forecasting monetary variables. Lastly, the counterfactual exercises show that the choice to adopt the floating exchange rate policy in 2015 has prevented a larger output slump in the short-term at the cost of stronger currency depreciation, and that countercyclical fiscal rules would have greatly mitigated the immediate negative impact of the 2007-08 and 2015 crises, in addition to making real output more stable overall.

show abstract

The role of labor market structure and shocks for monetary policy in Kazakhstan

Cited by 2 publications

References 18 publications

The Impact of the State Regulation System on the Income of Freelancers

The Impact of the State Regulation System on the Income of Freelancers

Estimation of a small open economy DSGE model for Kazakhstan

Contact Info

Product

Resources

About