The effects of fiscal policy shocks in Czech and German
economy: SVAR model with graphical modeling approach

D 2018

The effects of fiscal policy shocks in Czech and German economy: SVAR model with graphical modeling approach

KOMÁRKOVÁ, Eliška a Vlastimil REICHEL

Základní údaje

Originální název

The effects of fiscal policy shocks in Czech and German economy: SVAR model with graphical modeling approach

Autoři

KOMÁRKOVÁ, Eliška a Vlastimil REICHEL

Vydání

Praha, Proceedings of 36th International Conference Mathematical Methods in Economics, od s. 234-239, 6 s. 2018

Nakladatel

MatfyzPress, Publishing House of the Faculty of Mathematics and Physics Charles University,

Další údaje

Jazyk

angličtina

Typ výsledku

Stať ve sborníku

Obor

50202 Applied Economics, Econometrics

Stát vydavatele

Česká republika

Utajení

není předmětem státního či obchodního tajemství

Forma vydání

paměťový nosič (CD, DVD, flash disk)

Odkazy

Conference proceedings

Označené pro přenos do RIV

Ano

Kód RIV

RIV/00216224:14560/18:00103655

Organizační jednotka

Ekonomicko-správní fakulta

ISBN

978-80-7378-371-6

UT WoS

000507455300041

Klíčová slova anglicky

Fiscal policy; Structural VAR model; Graphical Modelling

Příznaky

Mezinárodní význam, Recenzováno

Změněno: 1. 8. 2022 13:30, Ing. Mgr. Vlastimil Reichel, Ph.D.

Anotace

V originále

The paper will focus on identifying the influence of the Czech Republic (and Germany) fiscal policy on the business cycle of the Czech Republic (and Germany). The paper will state the fiscal policies of the states and their comparisons with the theory of real business cycle theory (RBC) and the New Keynesian theory (NK). A cascade of structural VAR models will be used to determine the impact of the fiscal policy shocks. The graphical modeling method will be used to determine the restrictions in the structural VAR models. The following variables will be used to estimate VAR models: government spending, government taxes, real output, consumption, working hours and real wages. The results obtained from the models will be used to assess the effectiveness of the fiscal policy (government spending shocks) and their impacts on the economic cycle. The results are in line with Keynesian theoretical models. Significant differences in impulse responses for individual economies can also be observed.

Návaznosti

MUNI/A/0966/2017, interní kód MU

Název: Nekonvenční monetární politika a instituce trhu práce pohledem dynamických stochastických modelů všeobecné rovnováhy (Akronym: Nekonvenční monetární politika)

Investor: Masarykova univerzita, Nekonvenční monetární politika a instituce trhu práce pohledem dynamických stochastických modelů všeobecné rovnováhy, DO R. 2020_Kategorie A - Specifický výzkum - Studentské výzkumné projekty

Citovat

KOMÁRKOVÁ, Eliška a Vlastimil REICHEL. The effects of fiscal policy shocks in Czech and German economy: SVAR model with graphical modeling approach. In L. Váchová, V. Kratochvíl. Proceedings of 36th International Conference Mathematical Methods in Economics. Praha: MatfyzPress, Publishing House of the Faculty of Mathematics and Physics Charles University,, 2018, s. 234-239. ISBN 978-80-7378-371-6.

@inproceedings{1435281,
   author = {Komárková, Eliška and Reichel, Vlastimil},
   address = {Praha},
   booktitle = {Proceedings of 36th International Conference Mathematical Methods in Economics},
   editor = {L. Váchová, V. Kratochvíl},
   keywords = {Fiscal policy; Structural VAR model; Graphical Modelling},
   howpublished = {paměťový nosič},
   language = {eng},
   location = {Praha},
   isbn = {978-80-7378-371-6},
   pages = {234-239},
   publisher = {MatfyzPress, Publishing House of the Faculty of Mathematics and Physics Charles University,},
   title = {The effects of fiscal policy shocks in Czech and German economy: SVAR model with graphical modeling approach},
   url = {https://mme2018.fm.vse.cz/},
   year = {2018}
}

TY  - CONF
ID  - 1435281
AU  - Komárková, Eliška - Reichel, Vlastimil
PY  - 2018
TI  - The effects of fiscal policy shocks in Czech and German economy: SVAR model with graphical modeling approach
PB  - MatfyzPress, Publishing House of the Faculty of Mathematics and Physics Charles University,
CY  - Praha
SN  - 9788073783716
KW  - Fiscal policy
KW  - Structural VAR model
KW  - Graphical Modelling
UR  - https://mme2018.fm.vse.cz/
L2  - https://mme2018.fm.vse.cz/
N2  - The paper will focus on identifying the influence of the Czech Republic (and Germany) fiscal policy on the business cycle of the Czech Republic (and Germany). The paper will state the fiscal policies of the states and their comparisons with the theory of real business cycle theory (RBC) and the New Keynesian theory (NK). A cascade of structural VAR models will be used to determine the impact of the fiscal policy shocks. The graphical modeling method will be used to determine the restrictions in the structural VAR models. The following variables will be used to estimate VAR models: government spending, government taxes, real output, consumption, working hours and real wages. The results obtained from the models will be used to assess the effectiveness of the fiscal policy (government spending shocks) and their impacts on the economic cycle. The results are in line with Keynesian theoretical models. Significant differences in impulse responses for individual economies can also be observed.
ER  -

KOMÁRKOVÁ, Eliška a Vlastimil REICHEL. The effects of fiscal policy shocks in Czech and German economy: SVAR model with graphical modeling approach. In L. Váchová, V. Kratochvíl. \textit{Proceedings of 36th International Conference Mathematical Methods in Economics}. Praha: MatfyzPress, Publishing House of the Faculty of Mathematics and Physics Charles University,, 2018, s.~234-239. ISBN~978-80-7378-371-6.

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