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@article{556306,
author = {David, Stanislav and Vašíček, Osvald},
article_location = {St. Louis},
article_number = {4},
keywords = {Macroeconomic model; stability; zeros and poles; rational expectations},
language = {eng},
issn = {1083-0898},
journal = {International Advances in Economic Research},
title = {A Macroeconomic model and stability analysis by parameters},
volume = {10},
year = {2004}
}
TY - JOUR
ID - 556306
AU - David, Stanislav - Vašíček, Osvald
PY - 2004
TI - A Macroeconomic model and stability analysis by parameters
JF - International Advances in Economic Research
VL - 10
IS - 4
SP - 238-250
EP - 238-250
PB - International Atlantic Economic Society
SN - 10830898
KW - Macroeconomic model
KW - stability
KW - zeros and poles
KW - rational expectations
N2 - The article focuses on the New Keynesian multiple-equations small-open-economy macroeconomic model to illustrate deeper relations among model parameters. These relations are more important than the basic values of the parameters because it shows how the system behaves when some changes in the economy occur. The first stage of the analysis introduces a theoretical model. The second stage of the analysis estimates the states and parameters of the model on the quarterly data of the Czech economy. The third stage of the analysis focuses on the transfer function of this model and makes deeper behavior analysis. In the final stage, the article demonstrates the stability of the model, shown through the impulse functions of the model. This shows response of the macroeconomic model to unanticipated shocks.
ER -
DAVID, Stanislav a Osvald VAŠÍČEK. A Macroeconomic model and stability analysis by parameters. \textit{International Advances in Economic Research}. St. Louis: International Atlantic Economic Society, roč.~10, č.~4, s.~238-250, 22 s. ISSN~1083-0898. 2004.
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