Predictive performance of DSGE model for small open economy - the case study of Czech Republic
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216224%3A14310%2F13%3A00070677" target="_blank" >RIV/00216224:14310/13:00070677 - isvavai.cz</a>
Result on the web
<a href="http://acta.mendelu.cz/61/7/2229/" target="_blank" >http://acta.mendelu.cz/61/7/2229/</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.11118/actaun201361072229" target="_blank" >10.11118/actaun201361072229</a>
Alternative languages
Result language
angličtina
Original language name
Predictive performance of DSGE model for small open economy - the case study of Czech Republic
Original language description
Multivariate time series forecasting is applied in a wide range of economic activities related to regional competitiveness and is the basis of almost all macroeconomic analysis. From the point of view of political practice is appropriate to seek a modelthat reached a quality prediction performance for all the variables. As monitored variables were used GDP growth, inflation and interest rates. The paper focuses on performance prediction evaluation of the small open economy New Keynesian DSGE model forthe Czech republic, where Bayesian method are used for their parameters estimation, against different types of Bayesian and naive random walk model. The performance of models is identified using historical dates including domestic economy and foreign economy, which is represented by countries of the Eurozone. The results indicate that the DSGE model generates estimates that are competitive with other models used in this paper.
Czech name
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Czech description
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Classification
Type
J<sub>x</sub> - Unclassified - Peer-reviewed scientific article (Jimp, Jsc and Jost)
CEP classification
AH - Economics
OECD FORD branch
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Result continuities
Project
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Continuities
S - Specificky vyzkum na vysokych skolach
Others
Publication year
2013
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Name of the periodical
Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis
ISSN
1211-8516
e-ISSN
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Volume of the periodical
LXI
Issue of the periodical within the volume
7
Country of publishing house
CZ - CZECH REPUBLIC
Number of pages
10
Pages from-to
2229-2238
UT code for WoS article
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EID of the result in the Scopus database
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