Parameters

Description

Value

π 1

Recruitment rate to the passive unemployment

65

π 2

Recruitment rate to the active unemployment

35

k 1

Rate at which unemployment (passive) becomes employed

0.6

k 2

Proportion of active unemployment becomes employed

0.4

γ 1

Rate of employed people returned to passive unemployed

0.4

γ 2

Proportion of employed individual returned to active unemployed

0.2

β 1

Rate at which retired people becomes unemployed (passive)

0.4

β 2

Rate at which retired people becomes unemployed (active)

0.2

ϕ

Vacancy creation by active unemployed people

0.15

μ

Natural death

0.05

δ

Those that died in the process of working

0.01

η

Unpublicized available vacancies

0.18

γ

Vacancy created by employed people

0.2