Projects

PostdokGrant - Use of new machine learning methods in modelling different aspects of the labour market

Ing. Zuzana Košťálová, PhD.

• Basic informations
• Characteristics

• Grant of the Slovak Academy of Sciences (SAS) aiming to financially support high quality project
  proposals of early career researchers employed at the SAS institutes.

• The aim of the proposed project is to contribute to the debate on the use of new machine learning methods in modelling different aspects of the labour market. New machine learning techniques have several advantages: i) they have the ability to deal with large administrative data, ii) they are non-linear, iii) they are flexible and iv) they have good predictive capabilities. The first aim of the project is to build models that evaluate the impacts of Slovak active labour market policy (ALMP) measures using state-of-the-art machine learning algorithms. These measures should increase the likelihood of employment or job retention. Given their costs, it is important to monitor whether public funds are allocated efficiently to these measures and whether they meet the defined objective. The use of new machine learning techniques and the results achieved in this project can contribute to the debate on the effectiveness of ALMP. The proposed models, which will also take into account the heterogeneity of the impacts of ALMP, can be useful for policy makers in decision making and in the design of these measures. The second aim of the proposed project is to explore the possibilities of using online available data as alternative data sources to official labor market statistics. One possibility is to use information on online job advertisements in labor market forecasting or financial cycle modelling.