Labour Market Flexibility: The Case Of Visegrad Countries

The presented paper deals with labour market institutions and labour market flexibility in the Visegrád countries. The authors can find out in theoretical literature a traditional set of institutional aspects such as employment protection legislation, structure of wage bargaining, taxation of labour, active labour market policies, and the system of unemployment and social benefits. All these aspects determine the institutional framework of the labour market. Theoretical literature also has defined labour market flexibility as an instrument for adjustment process in case of asymmetric shock. The paper is composed of the comparative analysis of selected criteria and corresponding economic indicators of the EU member states (EU-15 and V-4).