Estimating Output Gap in the Czech Republic
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216224%3A14560%2F11%3A00053062" target="_blank" >RIV/00216224:14560/11:00053062 - isvavai.cz</a>
Result on the web
—
DOI - Digital Object Identifier
—
Alternative languages
Result language
angličtina
Original language name
Estimating Output Gap in the Czech Republic
Original language description
This contribution deals with an estimation of output gap in the Czech economy using a New Keynesian DSGE model. In this model the output gap is defined as a deviation of actual output from its flexible-price equilibrium level. The flexible-price equilibrium output is economically efficient and maximizes household welfare. These estimates are thus useful indicators for monetary policy. The model is estimated using Bayesian methods. The model data fit and prior sensitivity is also carried out. The resultsindicate that the model is able to describe Czech data quite well. The estimated output gap is more volatile than traditional measure (HP filter), but the periods of booms and recessions are almost the same.
Czech name
—
Czech description
—
Classification
Type
D - Article in proceedings
CEP classification
AH - Economics
OECD FORD branch
—
Result continuities
Project
—
Continuities
S - Specificky vyzkum na vysokych skolach
Others
Publication year
2011
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Article name in the collection
Mathematical Methods in Economics 2011
ISBN
978-80-7431-058-4
ISSN
—
e-ISSN
—
Number of pages
6
Pages from-to
242-247
Publisher name
University of Economics, Faculty of Informatics and Statistics
Place of publication
Prague
Event location
Janska Dolina (SR)
Event date
Jan 1, 2011
Type of event by nationality
EUR - Evropská akce
UT code for WoS article
—