Další formáty:
BibTeX
LaTeX
RIS
@inproceedings{847886,
author = {Cigáňová, Veronika and Vašíček, Osvald},
address = {Praha},
booktitle = {Mathematical Methods in Economics 2009},
keywords = {NK DSGE model; nominal rigidity; real rigidity; small open economy; Slovakia},
language = {eng},
location = {Praha},
isbn = {978-80-213-1963-9},
pages = {40-45},
publisher = {Czech University of Life Sciences Prague},
title = {A Small New Keynesian Model of Slovakia},
year = {2009}
}
TY - JOUR
ID - 847886
AU - Cigáňová, Veronika - Vašíček, Osvald
PY - 2009
TI - A Small New Keynesian Model of Slovakia
PB - Czech University of Life Sciences Prague
CY - Praha
SN - 9788021319639
KW - NK DSGE model
KW - nominal rigidity
KW - real rigidity
KW - small open economy
KW - Slovakia
N2 - This paper deals with a small open economy New Keynesian Dynamic Stochastic General Equilibrium (NK DSGE) model and its ability to describe behaviour of the Slovak economy. The model framework consists of three home subjects: households, firms and a monetary authority. The representative household maximizes its utility function which contains a real rigidity in consumption in a form of a habit formation. The monopolistic competitive firms maximize their net present value of dividends (their profits) with respect to Calvo-type price setting. The sticky price setting of home producers and importers represents nominal rigidities in the model. Monetary policy is conducted according to a Taylor-type rule. The model includes exogenous foreign sector which is represented by Euroarea-12. Evaluation of the model for Slovakia is based on an analysis of impulse response functions and an assessment of estimated parameters. We compare consistency of our results with similar studies.
ER -
CIGÁŇOVÁ, Veronika a Osvald VAŠÍČEK. A Small New Keynesian Model of Slovakia. In \textit{Mathematical Methods in Economics 2009}. Praha: Czech University of Life Sciences Prague, 2009, s.~40-45. ISBN~978-80-213-1963-9.
|
