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In this paper, we are trying to compare the labor market regulation in the Czech Republic and Austria and its structural parameters that characterize the given labor markets. In order to do that, we estimate the New-Keynesian model with matching frictions and nominal wage rigidities. Labor market regulation is proxied by worker´s bargaining power over the wage. This main parameter is moving inside the interval and express a share of the total surplus that arises from filling the vacancy. Indoi:10.2478/v10135-011-0009-8 fatcat:xd7aq2jwqbavhe755bvni7hypu