TVRZ, Stanislav. The Relevance of Financial Frictions in V4 Countries. In Milan Kaštan. MEKON 2015: The CD of participants' reviewed papers from 17th international conference. 1st ed. Ostrava: VŠB-TUO, Faculty of Economics, 2015. p. 579-586. ISBN 978-80-248-3684-3.
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Basic information
Original name The Relevance of Financial Frictions in V4 Countries
Authors TVRZ, Stanislav (203 Czech Republic, guarantor, belonging to the institution).
Edition 1. vyd. Ostrava, MEKON 2015: The CD of participants' reviewed papers from 17th international conference, p. 579-586, 8 pp. 2015.
Publisher VŠB-TUO, Faculty of Economics
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/00216224:14560/15:00082629
Organization unit Faculty of Economics and Administration
ISBN 978-80-248-3684-3
Keywords in English DSGE model; Great Recession; financial frictions; financial accelerator
Tags International impact, Reviewed
Changed by Changed by: Mgr. Ing. Stanislav Tvrz, Ph.D., učo 207212. Changed: 31. 3. 2015 09:39.
Abstract
In this paper, the importance of the financial frictions in the countries of Visegrád Group is compared using a set of estimated DSGE models with financial accelerator. Results of the Bayesian estimation confirm the overall similarity of V4 economies, with some notable differences. According to the variance decomposition, the exogenous fluctuations of the entrepreneurial net worth can explain a substantial share of volatility of the main macroeconomic variables in the long run. The share of real output volatility explained by the net worth shock is estimated to be the highest in Hungary and lowest in the Czech economy.
Links
MUNI/A/0808/2013, interní kód MUName: Analýza chování ekonomiky a hospodářské politiky v období recese: DSGE modely malých otevřených ekonomik s finančními frikcemi a frikcemi trhu práce (Acronym: DSGE modely otevřených ekonomik v období recese)
Investor: Masaryk University, Category A
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