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Parameters

Description

Value

π1

Recruitment rate to the passive unemployment

65

π2

Recruitment rate to the active unemployment

35

k1

Rate at which unemployment (passive) becomes employed

0.6

k2

Proportion of active unemployment becomes employed

0.4

γ1

Rate of employed people returned to passive unemployed

0.4

γ2

Proportion of employed individual returned to active unemployed

0.2

β1

Rate at which retired people becomes unemployed (passive)

0.4

β2

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