Další formáty:
BibTeX
LaTeX
RIS
@inproceedings{1197957, author = {Reichel, Vlastimil and Hloušek, Miroslav}, address = {Olomouc}, booktitle = {Proceedings of 32nd International Conference Mathematical Methods in Economics}, editor = {Talašová, J., Stoklasa, J., Talášek, T.}, keywords = {VAR model; Real Business Cycle Theory; New Keynesian Theory}, howpublished = {paměťový nosič}, language = {eng}, location = {Olomouc}, isbn = {978-80-244-4209-9}, pages = {855-860}, publisher = {Palacký University}, title = {RBC model vs. New Keynesian model: time series analysis of Czech data}, url = {http://mme2014.upol.cz/downloads/MME_2014_Proceedings.pdf}, year = {2014} }
TY - JOUR ID - 1197957 AU - Reichel, Vlastimil - Hloušek, Miroslav PY - 2014 TI - RBC model vs. New Keynesian model: time series analysis of Czech data PB - Palacký University CY - Olomouc SN - 9788024442099 KW - VAR model KW - Real Business Cycle Theory KW - New Keynesian Theory UR - http://mme2014.upol.cz/downloads/MME_2014_Proceedings.pdf L2 - http://mme2014.upol.cz/downloads/MME_2014_Proceedings.pdf N2 - The aim of this paper is to analyse the macroeconomic data of Czech economy and to discuss whether they correspond to RBC or New Keynesian theory. Firstly, we focus on non-neutrality of monetary policy. Secondly, using Blanchar-Quah decomposition in bivariate VAR model we identify technology and nontechnology shocks. The technology shocks produces negative correlation between hours worked and productivity, while nontechnology shocks implies positive correlation between these two variables. This result is in contrast with RBC model which shows positive correlation between hours worked and productivity in reaction to technology shocks, as main source of fluctuations. On the other hand, New Keynesians models are consistent with these empirical findings. ER -
REICHEL, Vlastimil a Miroslav HLOUŠEK. RBC model vs. New Keynesian model: time series analysis of Czech data. In Talašová, J., Stoklasa, J., Talášek, T. \textit{Proceedings of 32nd International Conference Mathematical Methods in Economics}. Olomouc: Palacký University, 2014, s.~855-860. ISBN~978-80-244-4209-9.
|