Detailed Information on Publication Record

ČAPEK, Jan. Real-time versus revised Czech data: a DSGE analysis. In Proceedings of 31th International Conference Mathematical Methods in Economics. 1st ed. Jihlava: College of Polytechnics Jihlava, 2013, p. 107-112. ISBN 978-80-87035-76-4.

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Basic information
Original name	Real-time versus revised Czech data: a DSGE analysis
Authors	ČAPEK, Jan (203 Czech Republic, guarantor, belonging to the institution).
Edition	1. vyd. Jihlava, Proceedings of 31th International Conference Mathematical Methods in Economics, p. 107-112, 6 pp. 2013.
Publisher	College of Polytechnics Jihlava

Other information
Original language	English
Type of outcome	Proceedings paper
Field of Study	50200 5.2 Economics and Business
Country of publisher	Czech Republic
Confidentiality degree	is not subject to a state or trade secret
Publication form	storage medium (CD, DVD, flash disk)
RIV identification code	RIV/00216224:14560/13:00069553
Organization unit	Faculty of Economics and Administration
ISBN	978-80-87035-76-4
UT WoS	000335578000019
Keywords in English	real-time data; data revision; recursive estimate; DSGE model
Tags	International impact, Reviewed
Changed by	Changed by: doc. Ing. Jan Čapek, Ph.D., učo 40604. Changed: 19/11/2014 11:08.

Abstract
The paper investigates the effects of using real-time data instead of revised final data within Dynamic Stochastic General Equilibrium (DSGE) framework. Theoretically, using most recent, updated historical data for ex-post analyses for a historical time-sample may be misleading, because revised data were not available at that time. The contribution uses a small-scale monetary macroeconomic DSGE model to analyze the importance of real-time data compared to most-recent revised data with a focus on the differences in decision-making of the monetary authority. The analysis proceeds from Bayesian estimation of model parameters in a model with real-time data and in a model with the most recent revised data.

Abstract

The paper investigates the effects of using real-time data instead of revised final data within Dynamic Stochastic General Equilibrium (DSGE) framework. Theoretically, using most recent, updated historical data for ex-post analyses for a historical time-sample may be misleading, because revised data were not available at that time. The contribution uses a small-scale monetary macroeconomic DSGE model to analyze the importance of real-time data compared to most-recent revised data with a focus on the differences in decision-making of the monetary authority. The analysis proceeds from Bayesian estimation of model parameters in a model with real-time data and in a model with the most recent revised data.