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@inproceedings{897868,
author = {Beláková, Veronika and Vašíček, Osvald},
address = {České Budějovice},
booktitle = {Mathematical Methods in Economics 2010},
edition = {1.},
keywords = {interactions; Czech economy; nominal rigidity; Slovak economy; two-country model},
language = {eng},
location = {České Budějovice},
isbn = {978-80-7394-218-2},
pages = {43-48},
publisher = {University of South Bohemia, Faculty of Economics},
title = {Analysis of interactions between Czech and Slovak economy},
year = {2010}
}
TY - JOUR
ID - 897868
AU - Beláková, Veronika - Vašíček, Osvald
PY - 2010
TI - Analysis of interactions between Czech and Slovak economy
PB - University of South Bohemia, Faculty of Economics
CY - České Budějovice
SN - 9788073942182
KW - interactions
KW - Czech economy
KW - nominal rigidity
KW - Slovak economy
KW - two-country model
N2 - The paper deals with behaviour of Czech and Slovak economy. For this purpose we have developed a two-country model with an exogenous foreign sector following the New Open Economy Macroeconomics (NOEM) paradigm. The main features of the NOEM are nominal rigidities and market imperfections which provide influential role for monetary policy. The model assumes optimizing households and monopolistically competitive firms, monetary policy conducted according to a Taylor rule, complete international financial market and competitive labour market. The sticky price setting of producers presents nominal rigidities in the model. The need for exogenous foreign sector is given by the membership of both countries in the EU. This paper presents the results from Bayesian estimation (which is incorporated in Dynare toolbox for Matlab). Specifically, we offer estimated values of structural parameters and impulse response functions. Both are used to assess the influence of one economy to another.
ER -
BELÁKOVÁ, Veronika a Osvald VAŠÍČEK. Analysis of interactions between Czech and Slovak economy. In \textit{Mathematical Methods in Economics 2010}. 1. vyd. České Budějovice: University of South Bohemia, Faculty of Economics, 2010, s.~43-48. ISBN~978-80-7394-218-2.
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