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@inproceedings{556321,
author = {Hloušek, Miroslav},
address = {Brno},
booktitle = {DATASTAT 2003 Proceedings},
keywords = {rational expactations; closed economy model; Phillips curve; Iterative Kalman Filter Smoother},
language = {eng},
location = {Brno},
isbn = {80-210-3564-1},
pages = {115-122},
publisher = {Masaryk University},
title = {Model Identification of Closed Economy with Rational Expectations},
year = {2004}
}
TY - JOUR
ID - 556321
AU - Hloušek, Miroslav
PY - 2004
TI - Model Identification of Closed Economy with Rational Expectations
PB - Masaryk University
CY - Brno
SN - 8021035641
KW - rational expactations
KW - closed economy model
KW - Phillips curve
KW - Iterative Kalman Filter Smoother
N2 - This paper shows the way of solving linear difference model under rational expectations. The whole procedure is described in general form. The conditions for existence of unique solution are summarized. The system is solved first for the unstable part and then for the stable part to get the final solution. Some theoretical examples for the macroeconomic model of closed economy are made. A reaction of agents to shocks, when anticipated or not, is examined. An influence of distinct types of Phillips curve on an adjusment process is discussed. An application for the Czech economy is made. The results are illustrated in figures and commented.
ER -
HLOUŠEK, Miroslav. Model Identification of Closed Economy with Rational Expectations. In \textit{DATASTAT 2003 Proceedings}. Brno: Masaryk University, 2004, s.~115-122, 7 s. ISBN~80-210-3564-1.
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