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Macroeconomic Effects of Employing Socially Excluded Communities

In this paper, we construct a computable general equilibrium model of the Slovak economy to evaluate a potential impact of different types of active labour market policies on an economic performance, with a focus on the activation works and the inclusive programmes. We then apply individual microeconomic data to identify socially excluded communities and place them either in the activation works or the inclusive programmes in each simulation period. Calibration of the model is based on a social accounting matrix and individual microeconomic data that are applied for the disaggregation of households and producers and the dynamization of active labour market policies. Our results show that both types of active labour market policies help to reduce structural unemployment and improve potential production in the Slovak economy. However, we find out that the inclusive programmes provide much better results than the activation works in a medium horizon.