HLOUŠEK, Miroslav. Význam nominálních rigidit v České ekonomice, odhad a analýza DSGE modelu (Importance of nominal rigidities in the Czech economy, estimation and analysis of DSGE model). In SLANÝ, Antonín a kol. Konkurenceschopnost ekonomiky (komparace zemí 10CE). Brno: Masarykova univerzita, 2008, p. 322-330. CVKS. ISBN 978-80-210-4725-9.
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Basic information
Original name Význam nominálních rigidit v České ekonomice, odhad a analýza DSGE modelu
Name (in English) Importance of nominal rigidities in the Czech economy, estimation and analysis of DSGE model
Authors HLOUŠEK, Miroslav (203 Czech Republic, guarantor).
Edition Brno, Konkurenceschopnost ekonomiky (komparace zemí 10CE), p. 322-330, 9 pp. CVKS, 2008.
Publisher Masarykova univerzita
Other information
Original language Czech
Type of outcome Chapter(s) of a specialized book
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
RIV identification code RIV/00216224:14560/08:00026735
Organization unit Faculty of Economics and Administration
ISBN 978-80-210-4725-9
Keywords in English nominal rigidities; wage and price stickiness; DSGE model; Bayesian estimation; sensitivity analysis; optimal monetary policy
Tags Bayesian estimation, DSGE model, nominal rigidities, optimal monetary policy, sensitivity analysis, wage and price stickiness
Tags Reviewed
Changed by Changed by: Ing. Miroslav Hloušek, Ph.D., učo 21886. Changed: 8/9/2009 11:13.
Abstract
Podkapitola se zabývá významem nominálních rigidit v České ekonomice, zejména vztahu mezi rigidními cenami a mzdami. Na základě odhadnutého makroekonomického modelu bylo zjištěno, že mzdy jsou daleko rigidnější než ceny. To vyplývá jak z odhadu délky mzdových a cenových kontraktů, tak z analýzy citlivosti, kde model s flexibilními mzdami neměl velkou vypovídací schopnost.
Abstract (in English)
The subsection deals with importance of nominal rigidities in the Czech economy. It is especially focused on relationship between prices and wages. Based on estimated macroeconomic model, it was found out that wages are far more rigid than prices. This result comes from two findings. Firstly, the length of contracts is longer for wages than prices. Secondly, sensitivity analysis showed that model with flexible wages does not fit data well.
Links
1M0524, research and development projectName: Centrum výzkumu konkurenční schopnosti české ekonomiky
Investor: Ministry of Education, Youth and Sports of the CR, Research Centre for the Competitiveness of the Czech Economy
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