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@inproceedings{899046,
author = {Herber, Pavel and Němec, Daniel},
address = {České Budějovice},
booktitle = {Mathematical Methods in Economics 2010},
edition = {1},
keywords = {DSGE model dvou ekonomik; strukturální odlišnosti; asymetrické šoky},
howpublished = {tištěná verze "print"},
language = {eng},
location = {České Budějovice},
isbn = {978-80-7394-218-2},
pages = {226 - 231},
publisher = {University of South Bohemia, Faculty of Economics},
title = {Investigating structural differences of the Czech economy: Does asymmetry of shocks matter?},
year = {2010}
}
TY - JOUR
ID - 899046
AU - Herber, Pavel - Němec, Daniel
PY - 2010
TI - Investigating structural differences of the Czech economy: Does asymmetry of shocks matter?
PB - University of South Bohemia, Faculty of Economics
CY - České Budějovice
SN - 9788073942182
KW - DSGE model dvou ekonomik
KW - strukturální odlišnosti
KW - asymetrické šoky
N2 - The goal of this paper is to evaluate heterogeneity between the Czech Republic and the Euro area. For this purpose, we introduce a two-country dynamic stochastic general equilibrium model that allows different sources of heterogeneity across countries. We focus on differences in structural parameters and asymmetry of shocks hitting the two economies. Using Bayesian techniques, we estimate various specifications of log-linear models (unrestricted and nested) and then we test different sources of heterogeneity. Our results indicate that the main sources of heterogeneity are price and wage rigidities and the asymmetry of shocks. On the other hand, we have found strong evidence in favor of homogeneity in parameters describing utility function of households.
ER -
HERBER, Pavel a Daniel NĚMEC. Investigating structural differences of the Czech economy: Does asymmetry of shocks matter? In \textit{Mathematical Methods in Economics 2010}. 1. vyd. České Budějovice: University of South Bohemia, Faculty of Economics, 2010, s.~226 - 231. ISBN~978-80-7394-218-2.
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