Modelling of the Ukrainian labor market: system dynamics approach
The purpose of the article is to develop a System Dynamics model of the functioning and development of the Ukrainian labor market, which can subsequently be used to simulate various government decisions and policies. The Stella Architect software is used to construct the model, allowing to provide i...
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| Format: | Article |
| Language: | English |
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National University of Kyiv-Mohyla Academy
2024-11-01
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| Series: | Наукові записки НаУКМА: Економічні науки |
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| Online Access: | http://spne.ukma.edu.ua/article/view/315629 |
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| _version_ | 1846115308293586944 |
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| author | Olena Primierova Alisa Sparish |
| author_facet | Olena Primierova Alisa Sparish |
| author_sort | Olena Primierova |
| collection | DOAJ |
| description | The purpose of the article is to develop a System Dynamics model of the functioning and development of the Ukrainian labor market, which can subsequently be used to simulate various government decisions and policies. The Stella Architect software is used to construct the model, allowing to provide insights into the current state of the labor market and forecasts future trends, helping identify potential improvements.
The explanatory System Dynamics Model effectively demonstrates the complex interrelationships that influence the dynamics of the Ukrainian labor market. The identified balancing loops highlight key factors such as retirement, business closures, production levels, and the formation of new businesses, all of which shape labor supply and demand. Each loop illustrates how changes in one economic aspect can impact others, underscoring the interconnectedness of labor dynamics, economic growth, and business development. Furthermore, the developed causal loop diagrams emphasize the cyclical nature of these interactions, where increases in labor supply can result in higher wages and GDP, leading to further investment and business creation. This model offers valuable insights into the feedback mechanisms that may stabilize or destabilize the labor market, particularly in response to external shocks or policy interventions. In the future, the developed model can be used to test various policies for major elements of the model and to simulate its behavior. |
| format | Article |
| id | doaj-art-884e7ccd7b7940f593f84f4e55c3d57c |
| institution | Kabale University |
| issn | 2519-4739 |
| language | English |
| publishDate | 2024-11-01 |
| publisher | National University of Kyiv-Mohyla Academy |
| record_format | Article |
| series | Наукові записки НаУКМА: Економічні науки |
| spelling | doaj-art-884e7ccd7b7940f593f84f4e55c3d57c2024-12-19T15:33:29ZengNational University of Kyiv-Mohyla AcademyНаукові записки НаУКМА: Економічні науки2519-47392024-11-01918086https://doi.org/10.18523/2519-4739.2024.9.1.80-86Modelling of the Ukrainian labor market: system dynamics approachOlena Primierova0https://orcid.org/0000-0002-3967-1982Alisa Sparish1https://orcid.org/0009-0007-3134-5860National University of Kyiv-Mohyla Academy, UkraineNational University of Kyiv-Mohyla Academy, UkraineThe purpose of the article is to develop a System Dynamics model of the functioning and development of the Ukrainian labor market, which can subsequently be used to simulate various government decisions and policies. The Stella Architect software is used to construct the model, allowing to provide insights into the current state of the labor market and forecasts future trends, helping identify potential improvements. The explanatory System Dynamics Model effectively demonstrates the complex interrelationships that influence the dynamics of the Ukrainian labor market. The identified balancing loops highlight key factors such as retirement, business closures, production levels, and the formation of new businesses, all of which shape labor supply and demand. Each loop illustrates how changes in one economic aspect can impact others, underscoring the interconnectedness of labor dynamics, economic growth, and business development. Furthermore, the developed causal loop diagrams emphasize the cyclical nature of these interactions, where increases in labor supply can result in higher wages and GDP, leading to further investment and business creation. This model offers valuable insights into the feedback mechanisms that may stabilize or destabilize the labor market, particularly in response to external shocks or policy interventions. In the future, the developed model can be used to test various policies for major elements of the model and to simulate its behavior.http://spne.ukma.edu.ua/article/view/315629labor marketsystem dynamicsunemploymentemploymentlabor supplylabor demandmonetary policy |
| spellingShingle | Olena Primierova Alisa Sparish Modelling of the Ukrainian labor market: system dynamics approach Наукові записки НаУКМА: Економічні науки labor market system dynamics unemployment employment labor supply labor demand monetary policy |
| title | Modelling of the Ukrainian labor market: system dynamics approach |
| title_full | Modelling of the Ukrainian labor market: system dynamics approach |
| title_fullStr | Modelling of the Ukrainian labor market: system dynamics approach |
| title_full_unstemmed | Modelling of the Ukrainian labor market: system dynamics approach |
| title_short | Modelling of the Ukrainian labor market: system dynamics approach |
| title_sort | modelling of the ukrainian labor market system dynamics approach |
| topic | labor market system dynamics unemployment employment labor supply labor demand monetary policy |
| url | http://spne.ukma.edu.ua/article/view/315629 |
| work_keys_str_mv | AT olenaprimierova modellingoftheukrainianlabormarketsystemdynamicsapproach AT alisasparish modellingoftheukrainianlabormarketsystemdynamicsapproach |