DSGE model with government sector and inflation targeting:
Structural changes of Czech economy in a period of recession

D 2014

DSGE model with government sector and inflation targeting: Structural changes of Czech economy in a period of recession

PISCA, Vratislav a Osvald VAŠÍČEK

Základní údaje

Originální název

DSGE model with government sector and inflation targeting: Structural changes of Czech economy in a period of recession

Autoři

PISCA, Vratislav (703 Slovensko, garant, domácí) a Osvald VAŠÍČEK (203 Česká republika, domácí)

Vydání

Olomouc, Proceedings of the 32nd International Conference Mathematical Methods in Economics, od s. 807-812, 6 s. 2014

Nakladatel

Palacký University

Další údaje

Jazyk

angličtina

Typ výsledku

Stať ve sborníku

Obor

50200 5.2 Economics and Business

Stát vydavatele

Česká republika

Utajení

není předmětem státního či obchodního tajemství

Forma vydání

elektronická verze "online"

Odkazy

URL

Kód RIV

RIV/00216224:14560/14:00082120

Organizační jednotka

Ekonomicko-správní fakulta

ISBN

978-80-244-4209-9

UT WoS

000356417900139

Klíčová slova anglicky

nonlinear DSGE model; Great Recession; European debt crisis; Czech economy; structural changes;

Příznaky

Mezinárodní význam, Recenzováno

Změněno: 21. 10. 2015 08:02, Mgr. Daniela Marcollová

Anotace

V originále

In the paper we compare the structure of the Czech economy in two periods: before and during the Great Recession. This small open economy is represented by two variations of a medium scale nonlinear dynamic stochastic model of a general equilibrium with scal and monetary policy. This model framework is based on a Portuguese approach introduced by Almeida (2009). We decided to use this model, because it captures the important features of the Czech economy in a reasonable detail. Since this concept was primarily constructed for the estimation of an economy in a currency union, we had to add a Taylor type monetary policy and a nominal exchange rate into the model. Both model variations are estimated with the use of bayesian techniques with the same priors, in order to analyse structural changes linked to the Great Recession. With the use of the shock decomposition we will analyse the impact of the exogenous shocks on the development of the Czech output. Especially, we will focus on the eects of the scal policy in the period of the Great Recession and the European debt crisis.

Návaznosti

MUNI/A/0808/2013, interní kód MU

Název: Analýza chování ekonomiky a hospodářské politiky v období recese: DSGE modely malých otevřených ekonomik s finančními frikcemi a frikcemi trhu práce (Akronym: DSGE modely otevřených ekonomik v období recese)

Investor: Masarykova univerzita, Analýza chování ekonomiky a hospodářské politiky v období recese: DSGE modely malých otevřených ekonomik s finančními frikcemi a frikcemi trhu práce, DO R. 2020_Kategorie A - Specifický výzkum - Studentské výzkumné projekty

Citovat

PISCA, Vratislav a Osvald VAŠÍČEK. DSGE model with government sector and inflation targeting: Structural changes of Czech economy in a period of recession. Online. In Talasova, J; Stoklasa, J; Talasek, T. Proceedings of the 32nd International Conference Mathematical Methods in Economics. Olomouc: Palacký University, 2014, s. 807-812. ISBN 978-80-244-4209-9.

@inproceedings{1199905,
   author = {Pisca, Vratislav and Vašíček, Osvald},
   address = {Olomouc},
   booktitle = {Proceedings of the 32nd International Conference Mathematical Methods in Economics},
   editor = {Talasova, J; Stoklasa, J; Talasek, T},
   keywords = {nonlinear DSGE model; Great Recession; European debt crisis; Czech economy; structural changes;},
   howpublished = {elektronická verze "online"},
   language = {eng},
   location = {Olomouc},
   isbn = {978-80-244-4209-9},
   pages = {807-812},
   publisher = {Palacký University},
   title = {DSGE model with government sector and inflation targeting: Structural changes of Czech economy in a period of recession},
   url = {http://www.mme2014.upol.cz/downloads/MME_2014_Proceedings.pdf},
   year = {2014}
}

TY  - JOUR
ID  - 1199905
AU  - Pisca, Vratislav - Vašíček, Osvald
PY  - 2014
TI  - DSGE model with government sector and inflation targeting: Structural changes of Czech economy in a period of recession
PB  - Palacký University
CY  - Olomouc
SN  - 9788024442099
KW  - nonlinear DSGE model
KW  - Great Recession
KW  - European debt crisis
KW  - Czech economy
KW  - structural changes;
UR  - http://www.mme2014.upol.cz/downloads/MME_2014_Proceedings.pdf
N2  - In the paper we compare the structure of the Czech economy in two periods: before and during the Great Recession. This small open economy is represented by two variations of a medium scale nonlinear dynamic stochastic model of a general equilibrium with scal and monetary policy. This model framework is based on a Portuguese approach introduced by Almeida (2009). We decided to use this model, because it captures the important features of the Czech economy in a reasonable detail. Since this concept was primarily constructed for the estimation of an economy in a currency union, we had to add a Taylor type monetary policy and a nominal exchange rate into the model. Both model variations are estimated with the use of bayesian techniques with the same priors, in order to analyse structural changes linked to the Great Recession. With the use of the shock decomposition we will analyse the impact of the exogenous shocks on the development of the Czech output. Especially, we will focus on the eects of the scal policy in the period of the Great Recession and the European debt crisis.
ER  -

PISCA, Vratislav a Osvald VAŠÍČEK. DSGE model with government sector and inflation targeting: Structural changes of Czech economy in a period of recession. Online. In Talasova, J; Stoklasa, J; Talasek, T. \textit{Proceedings of the 32nd International Conference Mathematical Methods in Economics}. Olomouc: Palacký University, 2014, s.~807-812. ISBN~978-80-244-4209-9.

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